S&P affirms Baker Hughes

S&P said it affirmed its A- issuer credit and senior unsecured debt ratings on Baker Hughes A GE Co. and Baker Hughes A GE Co. LLC. The outlook is stable.

At the same time, the agency affirmed the A-1 short-term and commercial paper ratings on BHGE LLC.

“The affirmation reflects our expectation that BHGE's financial performance will continue to improve, underscored by strong demand for onshore North American oilfield services, continued synergy gains from the GE–Baker Hughes merger, and the expectation that international and offshore markets will begin improving in 2019 and 2020, followed by a recovery in the liquefied natural gas (LNG) markets as demand increases and current capacity is utilized,” S&P said in a news release.

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