Moody’s turns NOV outlook to stable

Moody's Investors Service said it changed the outlook for NOV Inc. to stable from negative and affirmed its Baa2 senior unsecured rating.

"NOV's credit metrics are expected to improve meaningfully to levels supportive of the Baa2 rating as demand for its products and services grows further in 2023," said James Wilkins, a Moody's vice president and senior analyst, in a press release. "We expect NOV to generate higher earnings and positive free cash flow over the next few years."

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