Fitch Ratings reiterated its rating on Halliburton (NYSE:HAL), explaining the cost of the oil spill in the Gulf of Mexico won't have any impact on the oil giant as it has had on BP (NYSE:BP).
The senior unsecured notes and senior unsecured bank facility remained rated at "A-" while the issuer default rating remained "A-" as well.
Included in the reasoning has been the comments by BP on what led up to the explosion on the Deepwater Horizon oil rig which led to the spill, along with the company receiving indemnity from BP on costs connected to the well.
Halliburton's part in the project was their cementing of well before it failed on April 20.
Finally, Halliburton doesn't have that much exposure to deepwater, offshore drilling and it is only a small part of their overall business.
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