Moody's ups ABB to A3

Moody's Investors Service said it upgraded ABB Ltd.'s senior debt ratings to A3 from Baa1 and affirmed the company's rating for short-term debt at prime-2.

The outlook is stable.

The upgrade is based on the continuation of rising orders, strengthening profitability and cash flow through 2007, which support the resilience of the company to possible future downturns in its cyclical customer markets, Moody's said. A reduction in net debt opens up headroom for strategic initiatives, the agency added.

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