Fitch to give Lockheed Martin issue A-

Fitch Ratings said it expects to assign an A- rating to Lockheed Martin Corp.'s planned issuance of senior unsecured debt.

The new debt is expected to have a term of five years, maturing in March 2013 and proceeds will be used for general corporate purposes, the agency noted.

Fitch said that its existing ratings for Lockheed Martin are issuer default rating at A-, senior unsecured debt A-, bank facility A- and commercial paper programs F2.

The outlook is stable.

According to the agency, the ratings reflect Lockheed Martin's position as a leading defense contractor, high levels of defense spending, strong cash flow and liquidity, operating margin growth in the past several years, large backlog and the improved status of several large programs, including the F-22 and F-35.

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