The company's ratings are restrained by its exposure to the drilling cycle, which drives over two-thirds of its revenues.

Looking forward, the company said it does not expect to be strongly affected by the commodity markets and slowdown in drilling activity, adding that some of its businesses were not tied to the drilling cycle.

A variable speed air turbine with a built in optical speed sensor which allows the machine to operate as a closed loop system for speed control giving both accuracy and power during the drilling cycle.

However, Moody's notes that despite the enhanced competitive position with an ability to bundle its products and services, the new company will not be gaining any additional scale in the legacy businesses and will have more exposure to the drilling cycle and still be reliant on North America.