Fitch pulls ABB from rating watch

Fitch Ratings said it removed ABB Ltd.’s ratings from ratings watch positive and assigned a stable outlook.

“The stable outlook reflects Fitch’s expectations that the integration of new acquisitions and the reshuffling of the portfolio will take longer than previously anticipated. Fitch forecasts that funds from operations (FFO) adjusted net leverage will fall below 2x - the A rating median for our diversified industrials and capital goods issuers - in the next two years, which is outside the scope of our rating watch,” said Fitch in a press release.

Fitch affirmed ABB’s A- rating and its A- senior unsecured rating.

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