Weatherford announces upgrade in credit rating to ‘b1' from ‘b2', positive outlook

Houston, oct. 30, 2023 (globe newswire) -- weatherford international plc (nasdaq: wfrd) (“weatherford” or the “company”) today announced that moody's investors service ("moody's") upgraded its corporate family rating to b1 from b2 with positive outlook. the upgrade reflects the improvement in credit metrics as a result of the company reducing its balance sheet debt and growing earnings. the positive outlook also evidences the ongoing strong demand for weatherford's services and potential for further improvement in its credit profile.
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