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S&P cuts its credit rating of Weatherford (WFT) a notch to BBB-, one step higher than junk...
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Friday, December 21, 2012, 4:27 PM ETS&P cuts its credit rating of Weatherford (WFT) a notch to BBB-, one step higher than junk grade, saying the oilfield services company's recent capital spending and investments have hurt its credit. S&P says WFT's spending over the last several quarters has increased its debt by an average of $300M per quarter since the middle of 2011.
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