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S&P lifts Lockheed Martin
Standard & Poor's said it raised its long-term ratings, including the corporate credit rating to A- from BBB+, on Lockheed Martin Corp.
The ratings are removed from CreditWatch, where they were placed with positive implications on Jan. 26, the agency said.
The outlook is stable.
The A-2 short-term corporate credit rating was not on CreditWatch and is affirmed, S&P noted, adding that the upgrade reflects continued good overall financial performance and the likelihood of further gains in the intermediate term.
According to the agency, the ratings on Lockheed Martin are supported by its position as the largest defense contractor worldwide, healthy contractual backlog and an overall solid financial profile.
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