Fitch ups ABB view to positive

Fitch Ratings said it changed ABB Ltd's outlook to positive from stable.

ABB's ratings have been affirmed at long-term issuer default and senior unsecured BBB+, respectively, and short-term IDR F2.

"Despite the global slowdown in capital and infrastructure expenditure over the past year or so, ABB's financial metrics, especially its leverage, have been resilient throughout 2009 and remain strong for the rating," said Tom Chruszcz, director in Fitch's industrial team, in a news release. "While there remains short-term uncertainty about the timing of improvement in the investment climate, Fitch believes the company is well-positioned to benefit from fundamentally strong medium- to long-term demand dynamics in the industry."

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