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Moody's may upgrade Lockheed Martin
Moody's Investors Service said it placed all of Lockheed Martin Corp.'s and COMSAT Corp.'s long-term debt ratings under review for possible upgrade, including both companies' Baa2 senior unsecured notes and bonds and Lockheed Martin's Baa2 issuer rating, Baa2 senior unsecured credit facility and Baa2 senior unsecured shelf.
Lockheed's liquidity profile remains very strong, earnings and cash flow have improved and debt has been reduced over the past several years, the agency said.
Moody's review will focus on the outlook for continued strengthening of the company's cash flow and debt coverage metrics and the company's prospects in light of expected continued budgetary pressures on defense department spending.
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