S&P lifts ABB

Standard & Poor's said it raised its corporate credit ratings on ABB Ltd. and related entities to BBB+/A-2 from BBB-/A-3.

ABB group's Nordic CP rating was also raised to K-1 from K-3, S&P said.

At the same time, the ratings were removed from CreditWatch, where they had been placed with positive implications on April 27. The outlook is stable.

The ratings on ABB reflect the group's strong business risk profile, based on leading global positions and strong technology bases in its core businesses of power transmission and distribution and automation, S&P said.

They also reflect the company's intermediate financial position, including adequate debt protection measures and sound free operating cash-flow-generation and liquidity positions, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.