Moody’s affirms Ingersoll-Rand

Moody's Investors Service said it affirmed all debt ratings of Ingersoll-Rand Global Holding Co. Ltd., Ingersoll-Rand Co. and Ingersoll-Rand Luxembourg Finance SA, including the senior unsecured at Baa2 and the short-term rating at P-2.

All of the entities are direct or indirect subsidiaries of Ingersoll-Rand plc.

The outlooks are stable.

“Ingersoll-Rand's Baa2 long-term ratings reflect the sizable $15.7 billion revenue base, strong brand recognition in its core markets, geographic diversity (over a third of revenues generated abroad) and ample cash flow generated from operations (approximately $1.5 to $1.8 billion annually),” the agency said in a news release.

“The company also benefits from distinct revenue streams that are each exposed to different business cycles.”

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