S&P ups Raytheon

Standard & Poor's said it upgraded the corporate credit rating to BBB/A-2 from BBB-/A-3 on Raytheon Co. and also lifted the senior unsecured debt rating to BBB from BBB-.

The outlook is stable.

The upgrade is based on a strengthening financial profile stemming from debt reduction and operational improvements and expectations of a balanced use of internally generated cash, the agency said.

The ratings on Raytheon reflect its position as a leading U.S. defense contractor, with strengths in defense electronics and overall appropriate credit protection measures, S&P added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.