S&P ups Weatherford to stable

Standard & Poor's said it revised the outlook on Weatherford International Ltd. to stable from negative.

The agency also said it raised its short-term rating to A-2 from A-3.

The actions reflect the continued improvement in the company's credit protection measures over the last several quarters, S&P said.

Given expectations for the company's performance in 2012, the agency said it believes the company will be able to sustain credit metrics at these levels over the intermediate term.

The ratings also consider its satisfactory business profile and intermediate financial profile, S&P said.

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