S&P: Halliburton unaffected

Standard & Poor's said Halliburton Co.'s (BBB/stable/A-2) announcement that it will call at par all its $500 million floating-rate notes due January 2007 is a favorable development for the company's credit quality.

However, S&P said there is no immediate affect on the ratings as the repayment had been factored into the current ratings.

S&P said the repayment will reduce the company's debt burden by about 12% and is a part of management's plans to reduce debt following the completion of the asbestos settlement.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.