Moody's Investors Service downgraded both the companies' senior unsecured rating to Baa1 from A2.
"Debt incurred to finance its failed bid to acquire Baker Hughes together with the negative impact on profitability and cash flow of the very weak oilfield services environment have eroded Halliburton's credit metrics to levels which no longer support its A2 rating," Moody's Vice President Andrew Brooks wrote.
Moody's
