S&P rates Vontier BBB-

S&P said it assigned a BBB- issuer credit rating to Vontier Corp. The outlook is stable.

Vontier completed its separation from Fortive Corp. (BBB/negative/--) in October 2020, with approximately $1.8 billion of short-term bank debt and an undrawn $750 million revolving credit facility.

“As Vontier potentially looks to refinance its short-term bank debt over the next 12 months, we expect the company to maintain conservative financial policies consistent with an investment-grade rating and that support debt leverage below 3x on a sustained basis,” S&P said in a news release.

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