Fitch affirms Rockwell Automation

Fitch Ratings said it affirmed Rockwell Automation, Inc.’s long-term issuer default rating at A and short-term issuer default rating and commercial paper ratings at F1.

The outlook is stable. The actions affect $1.9 billion of total debt outstanding as of March 31, 2017.

Fitch said the affirmation and stable outlook reflect Rockwell's strong competitive position in industrial automation supported by technological differentiation, solid end-market and customer diversification that help to moderate cyclical volatility and relatively low financial leverage.

The rating also considers Rockwell's generous shareholder returns, with higher share repurchases anticipated over the near-term financed in part with repatriated foreign cash, the agency noted.

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