Moody's could cut Oil States

Moody's Investors Service said it placed Oil States International, Inc.'s Ba2 corporate family rating, Ba2-PD probability of default rating and Ba3 senior unsecured note rating under review for downgrade.

The downgrade follows an announcement that the company plans to spin-off its accommodations business into a standalone publicly traded company through a tax-free distribution to Oil States' shareholders.

The spin-off is expected to close around mid-2014 and will be subject to receipt of an affirmative Internal Revenue Service ruling, Securities and Exchange Commission review and Oil States' final board approval.

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