S&P: Halliburton unaffected

Standard & Poor's said that Halliburton Co.'s (BBB/positive/A-2) announcement that its board of directors has approved a $1 billion share-repurchase program does not affect the ratings on the company.

The company's board also authorized a 20% increase in its quarterly dividend, the agency said.

The ratings and outlook are not affected as the share repurchases are expected to be funded with expected free cash flow and existing cash balances that are well beyond the company's normal operating needs, S&P added.

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