Toronto, May 02, 2016 -- Moody's Investors Service ("Moody's") will continue its reviews for downgrade of Baker Hughes Incorporated and Halliburton Company (both A2, under review downgrade) following the announcement today that the two companies have terminated the merger agreement they entered into in November 2014, effective April 30, 2016. Moody's expects to conclude both the Baker Hughes and Halliburton rating reviews by early June following a reassessment of the companies' standalone financial and operating performance in light of the terminated merger and in the context of the very weak oilfield services operating environment.

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