Fitch revises Allegion view to positive

Fitch Ratings said it revised the outlook for Allegion plc and Allegion US Holding Co., Inc. (ALLE) to positive from stable and affirmed the long-term issuer default, senior unsecured credit facilities and senior unsecured notes ratings at BBB-.

“The rating and positive outlook reflect Fitch's expectation that ALLE will prioritize deleveraging following the Access Technologies (AT) acquisition including repaying the $340 million borrowed from the revolving credit facility to finance the transaction, successful integration of AT and the company managing its leverage profile (EBITDA leverage) within 2x to 2.5x while executing on its growth strategy,” the agency said in a press release.

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