S&P ups Invensys

Standard & Poor's said it raised the long-term corporate credit ratings on Invensys plc to BB+ from BB, reflecting reduced business and financial risk, and removed ratings from CreditWatch, where they were placed with positive implications on May 16.

The outlook is positive.

Ratings reflect exposure to cyclical industries with strong competition from mainly larger companies, the agency said.

These factors are balanced by access to strong niche positions, large installed bases, improving operating efficiency, good diversification and good profitability, S&P noted.

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