Fitch affirms Rockwell Collins

Fitch Ratings said it affirmed Rockwell Collins, Inc.'s long-term issuer default rating at A, short-term issuer default rating at F1, senior unsecured bank facility at A, senior unsecured debt at A and commercial paper at F1.

The outlook is stable.

Ratings consider the company's solid credit metrics, a portfolio that is well balanced between aerospace and defense markets, stable free cash flows and conservative financial policies, the agency said.

Concerns include the potential for event risk in the aerospace sector as well as the possibility of a sizable acquisition and related integration challenges, the agency noted.

The company's leverage was 0.5 times at the end of fiscal 2009 but could increase in fiscal 2010 to closer to 0.7x due to weaker operating results. Leverage is expected to return 0.5x range as operating results improve, Fitch said.

© 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.