S&P upgrades ABB

S&P said it raised its ratings on ABB Ltd. and its senior unsecured debt to A from A-.

“The upgrade reflects our perception that the group is likely to maintain its currently strong credit metrics. In our base case, we expect ABB to post S&P Global Ratings-adjusted FFO to debt of above 100% in 2024 and 2025. We believe that the company will deliver consistently strong credit metrics resulting in an FFO-to-debt ratio exceeding 45%, supported by its conservative financial policy,” the agency said in a statement.

The outlook is stable.

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