Moody's lowers its outlook on Halliburton (HAL +3.7%) to negative from stable while affirming an...

|About: Halliburton Company (HAL)|By:, SA News Editor

Moody's lowers its outlook on Halliburton (HAL +3.7%) to negative from stable while affirming an A2 credit rating after the oilfield services company unveiled plans to launch a modified Dutch auction tender for up to $3.3B of its stock. The ratings agency views HAL's increased buybacks as aggressive given the cyclicality of its earnings; the tender offer effectively targets to repurchase 10% of outstanding shares.