Fitch affirms Raytheon

Fitch Ratings said it affirmed Raytheon Co.’s long-term issuer default rating at A- and short-term issuer default rating at F2.

The outlook is stable. The ratings cover about $5.1 billion of debt.

Fitch said the ratings and outlook are supported by the company's competitive position in the defense industry, good product diversification, large portion of revenues derived from international sales, adequate liquidity and large backlog.

Raytheon’s product portfolio is program-agnostic, reducing the risk of large program cuts by the U.S. Department of Defense (DoD). The majority of the company's large programs are well aligned with DoD priorities, the agency explained.

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