Nabors Industries (NBR) is downgraded by Fitch Ratings to BBB, two notches above junk territory,...

|About: Nabors Industries Ltd. (NBR)|By:, SA News Editor

Nabors Industries (NBR) is downgraded by Fitch Ratings to BBB, two notches above junk territory, reflecting the oilfield services company's high leverage and capital expenditures, as well as recent weakness in the pressure-pumping market and the North American onshore rig count.