S&P cuts its credit rating of Weatherford (WFT) a notch to BBB-, one step higher than junk...

|About: Weatherford International Ltd. (WFT)|By:, SA News Editor

S&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.