Moody's upgrades Cummins

Moody's Investors Service said it raised the senior unsecured rating of Cummins Inc. to A3 from Baa1.

The outlook is stable.

The upgrade reflects Moody's expectation that Cummins will maintain a highly competitive position in all of its business units and will continue to generate credit metrics that solidly support the A3 rating despite slowing demand in some markets, the agency said.

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