S&P rates Weatherford International CCRs BB+, B

Standard & Poor's said it assigned its BB+ long-term and B short-term corporate credit ratings to Weatherford International plc.

At the same time, the agency withdrew its long- and short-term corporate credit ratings on Weatherford International Ltd.

The BB+ issue-level ratings on the company's unsecured notes and the B commercial paper rating are unchanged.

S&P said the actions follow the company's re-domestication to Ireland from Switzerland, and the name of the successor parent public company being changed to Weatherford International plc from Weatherford International Ltd. Weatherford International plc is the parent company and is a guarantor of all the company's unsecured obligations, including its revolving credit facility and commercial paper program, issued by holding company subsidiaries Weatherford International Ltd. and Weatherford International LLC.

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