Nabors Industries Sees Credit Rating Upgrades from Major Agencies

Nabors Industries Ltd. announced significant upgrades to its credit ratings from leading agencies following the company’s recent offering of Senior Preferred Guaranteed Notes due in 2032. On November 4, 2025, three major credit rating agencies responded positively to Nabors’ financial strategies, underscoring the company’s progress in enhancing its capital structure.

Both S&P Global Ratings and Fitch Ratings upgraded various aspects of Nabors’ debt profile. Specifically, S&P raised its issuer credit rating to ‘B’ from ‘B-‘ with a stable outlook. The agency also assigned a ‘B+’ rating to the newly issued Senior Preferred Guaranteed Notes and upgraded existing notes ratings, including the Senior Guaranteed Notes to ‘CCC+’ from ‘CCC’.

Fitch Ratings followed suit, increasing Nabors’ Long Term Issuer Default Rating to ‘B’ from ‘B-‘, also maintaining a stable outlook. Fitch assigned a ‘BB-‘ rating to the recently issued and existing Senior Preferred Guaranteed Notes, previously rated ‘B+’, and upgraded Nabors’ Senior Guaranteed Notes to ‘B-‘ from ‘CCC’ and Senior Unsecured Notes to ‘CCC+’ from ‘CCC’.

Moody’s Investors Service assigned a rating of ‘Ba3’ to the recent Senior Preferred Guaranteed Notes, aligning with its rating on existing notes.

Anthony G. Petrello, Chairman, CEO, and President of Nabors, remarked on the upgrades, stating, “Nabors has made dramatic progress this year to delever and strengthen our balance sheet. The response of these respected agencies underscores the tangible results of our actions and our accomplishments to reduce debt and enhance our capital structure.”

Nabors Industries, headquartered in Hamilton, Bermuda, is recognized as a leading provider of advanced technology for the energy sector. Operating in over 20 countries, the company focuses on delivering safe and efficient energy production through innovations in drilling, engineering, automation, and data science.

As Nabors aims to support the transition to a lower-carbon world, these credit rating upgrades reflect a robust confidence from financial analysts in its strategic direction and operational improvements.

The announcement comes with a cautious reminder regarding forward-looking statements, which indicate that actual results may differ from the expectations set forth in this release. Nabors emphasizes that these projections are subject to risks and uncertainties detailed in its filings with the Securities and Exchange Commission.

For further inquiries, investors may contact William C. Conroy, Vice President of Corporate Development & Investor Relations, or Kara K. Peak, Director of Corporate Development & Investor Relations, at their Hamilton office.