Fitch ups Halliburton outlook to positive

Fitch Ratings said it revised its outlook on Halliburton Co. to positive and affirmed its debt ratings and issuer default rating at BBB.

The outlook revision reflects Halliburton's continued debt reduction and improved cash flow generation since year-end 2004 and the resolution of Asbestos litigation, the agency said.

Halliburton's ratings reflect its leading position in the energy services sector, the company's geographic and operational diversification and expectations for the company to continue to show improvements in its credit profile, the agency said.

Fitch also said that offsetting risk factors include the significant level of off-balance sheet financings, the company's sizable dividend and remaining litigation issues.

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