S&P cuts Eaton outlook

Standard & Poor's said it affirmed its ratings on Eaton Corp., including the A- long-term corporate credit and A-2 short-term ratings.

At the same time, the agency said it revised the outlook to negative from stable.

"The affirmation reflects our expectation that Eaton Corp.'s operating prospects are likely to remain favorable and that its planned contribution of equity to fund a considerable portion of the Cooper acquisition is sufficient to maintain the rating," said S&P credit analyst John Sico in a news release.

"However, the outlook revision to negative recognizes the potential for a lower rating if weak market conditions, deterioration in operating performance or a less conservative financial policy delays expected improvements," he 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.