Fitch: Textron view to stable

Fitch Ratings said it affirmed Textron Inc.'s issuer default rating at BB+, senior unsecured bank facilities at BB+, senior unsecured debt at BB+, short-term issuer default rating at B and commercial paper at B, along with Textron Financial Corp.'s issuer default rating at BB+, senior unsecured bank facilities at BB+, senior unsecured debt at BB+, junior subordinated notes at B+, short-term issuer default rating at B and commercial paper at B.

The outlook has been revised to stable from negative.

The ratings are linked through a support agreement and other factors, Fitch said.

The ratings primarily reflect progress made over the last year to address liquidity concerns and execution risks relating to liquidation of Textron Financial's non-captive business, the agency said.

Concerns include uncertainty about future losses at Textron Financial, leverage at Textron that is much higher than in the past and the possibility of large pension contributions, Fitch added.

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