Fitch lifts Flowserve

Fitch Ratings said it has upgraded Flowserve Corp.'s issuer default rating and senior secured bank facilities as follows: issuer default rating to BB+ from BB and senior secured bank facilities to BB+ from BB.

The outlook is revised to stable from positive.

The agency said that the upgrade recognizes Flowserve's improved operating profile related to strong demand in its energy and infrastructure markets, increasing profit margins, and the company's attention to controlling its cost structure.

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