Moody’s upgrades Cummins to A2

Moody's Investors Service said it upgraded the senior unsecured debt rating of Cummins, Inc. to A2 from A3.

The outlook is stable.

Moody’s said the A2 rating reflects its expectations that Cummins will maintain the market position, operational strengths and the financial disciplines necessary to contend with the substantial cyclicality characteristic of its business.

Since the last downturn, Cummins has taken meaningful steps to fortify its profile, which includes leading positions in the markets for engines used in commercial truck and power generation applications, and an increasingly diverse geographic footprint, the agency said.

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