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Weatherford Announces Expansion of Credit Facility and Improvement in Quick Ratio Performance


Published / Modified Jun 11 2024
CSIMarket Team / CSIMarket.com


Weatherford International plc Increases Credit Facility and Improves Quick Ratio Performance

In a recent announcement, Weatherford International plc revealed that it has expanded its Credit Facility by $40 million, bringing the total aggregate commitments to $720 million with the addition of a new lender. Despite a decrease in Current Liabilities, the company's Quick Ratio in the first quarter of 2024 deteriorated to 0.47, still above the industry average of 0.4. Weatherford International plc stands out in the industry with the best Quick Ratio, ranking higher than its competitors at 195 in the first quarter of 2024.

On a trailing twelve months basis, the decrease in Current Liabilities to $1753 million in the first quarter of 2024 resulted in a cumulative Quick Ratio of 0.51, above the company's average. With impressive performance over the past twelve months, Weatherford International plc has demonstrated outstanding results, ranking higher than all but one other company in the industry.

The expansion of the Credit Facility and the improvements in the Quick Ratio showcase Weatherford International plc's commitment to financial stability and growth. These strategic moves position the company for continued success in the industry.







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