S&P ups Lockheed Martin view to positive

Standard & Poor's said it revised its outlook on Lockheed Martin Corp. to positive from stable.

At the same time, S&P said it affirmed its ratings, including the BBB+/A-2 corporate credit rating, on the company.

The agency said that the outlook revision is based on improving profitability, aided by higher revenues and margin expansion and expectations that management will continue to pursue a balanced capital allocation from its substantial cash flow to achieve stronger credit protection measures.

S&P noted that the ratings on Lockheed Martin are supported by its position as the largest defense contractor worldwide, healthy contractual backlogs and an overall solid financial profile.

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