Moody's could up Flowserve

Moody's Investors Service said it placed Flowserve Corp.'s Ba1 corporate family, Ba1 senior unsecured and Ba2 probability of default ratings under review for possible upgrade.

The company's speculative grade liquidity rating remains unchanged at SGL-1.

Moody's said the review was triggered by the company's announcement yesterday that it has endorsed a new capital structure strategy, targeting a long-term gross leverage (debt to EBITDA) range of 1x-2x, or about 1.5x-2.5x incorporating Moody's standard accounting adjustments.

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