S&P ups Raytheon

S&P said it raised its long-term issuer credit rating on Raytheon Co. to A+ from A and affirmed the A-1 short-term issuer credit rating. The outlook is stable.

S&P also raised the issue-level rating on Raytheon's unsecured debt to A+ from A and affirmed the A-1 commercial paper rating.

“The upgrade reflects our expectation that Raytheon's credit metrics will remain strong as the company's earnings and cash flows benefit from solid demand from U.S. and foreign government customers and lower taxes. It also incorporates our expectation that the company's pension liability will likely decline over the next few years, it will return free cash flow to shareholders, and it could make acquisitions,” S&P said in a news release.

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