Fitch affirms Fluor

Fitch Ratings said it affirmed Fluor Corp.'s long-term issuer default rating at A-, senior unsecured bank facilities at A-, senior unsecured long term debt rating at A-, short-term issuer default rating at F2 and commercial paper rating at F2.

The outlook is stable.

The ratings incorporate Fluor's global presence, ability to undertake large complex projects, diversification provided by a broad mix of clients, effective risk management and low leverage, Fitch said.

Its performance is supported by its careful approach to bidding and executing contracts, which helps to maintain adequate margins and limit potential cost overruns, the agency said.

Going forward, financial results could begin to moderate from peak levels reported in 2008 and most of 2009, Fitch added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.