Moody's affirms Rockwell Automation

Moody's Investors Service said it affirmed Rockwell Automation, Inc.'s A2 senior unsecured rating and Prime-1 short-term rating but revised the outlook to negative.

The action considers the combination of reduced prospects for earnings over the intermediate period and approaching expiration of the company's revolving credit facility in October 2009, the agency said.

According to the agency, Rockwell provided guidance for its fiscal 2009 results which included lowering revenues between 6% and 10% (post currency effect) and segment operating margins of between 150 to 300 basis points compared to its fiscal 2008 results.

© 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.