Nabors Comments on Upgrades to Credit Ratings

HAMILTON, Bermuda, Nov. 4, 2025 /PRNewswire/ -- Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) today commented on the recent credit ratings actions taken by all three of the major credit rating agencies. Coincident with Nabors recent offering of Senior Preferred Guaranteed Notes due in 2032 ("SPGN"), each of the agencies has issued certain credit ratings. Two of the agencies upgraded their ratings on elements of Nabors debt structure.

• S&P Global Ratings ("S&P") revised its issuer credit rating up to 'B' from 'B-' and outlook to stable. At the same time, S&P assigned a 'B+' rating to Nabors recently issued SPGN. S&P also upgraded its rating for the existing SPGN to 'B+' from 'B-', and for Nabors Senior Guaranteed Notes ("PGN") to 'CCC+' from 'CCC'.
• Fitch Ratings ("Fitch") upgraded its Long Term Issuer Default Rating on Nabors Industries Ltd. and Nabors Industries Inc. to 'B' from 'B-', with a Stable outlook. Fitch assigned a 'BB-' rating to the recently issued SPGN as well as the existing SPGN, which were formerly rated 'B+'. Fitch also upgraded its ratings of Nabors' PGN to 'B-' from 'CCC', and of Nabors Senior Unsecured Notes to 'CCC+' from 'CCC'.
• Moody's Investors Service ("Moodys") assigned a rating of 'Ba3' to Nabors recent SPGN issue. This rating is in-line with Moody's rating on Nabors existing SPGN.

Anthony G. Petrello, Nabors Chairman, CEO and President, commented, "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."

About Nabors Industries

Nabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With presence in more than 20 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world. Learn more about Nabors and its energy technology leadership: www.nabors.com.

Forward-looking Statements

The information included in this press release includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such forward-looking statements are subject to a number of risks and uncertainties, as disclosed by Nabors from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, Nabors' actual results may differ materially from those indicated or implied by such forward-looking statements. The forward-looking statements contained in this press release reflect management's estimates and beliefs as of the date of this press release. Nabors does not undertake to update these forward-looking statements. 

Investor Contacts:  William C. Conroy, CFA, Vice President of Corporate Development & Investor Relations, +1 281-775-2423 or via e-mail [email protected], or Kara K. Peak, Director of Corporate Development & Investor Relations, +1 281-775-4954 or via email [email protected]. To request investor materials, contact Nabors' corporate headquarters in Hamilton, Bermuda at +441-292-1510 or via e-mail [email protected]

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SOURCE Nabors Industries Ltd.