Fitch lifts GKN to positive

Fitch Ratings said it has revised GKN Holdings plc's outlook to positive from stable while its long-term issuer default rating and senior unsecured ratings have been affirmed at BBB- and the short-term issuer default rating has been affirmed at F3.

The positive outlook reflects Fitch's view that GKN's financial results, which over the past 18 months have been better than its expectations, could show continuous gradual improvement in the short- to medium-term, resulting in a financial profile firmly within the BBB rating.

Such an upgrade is possible in the next 12 to 18 months once Fitch has assessed the company's expected margin evolution, investment plans beyond 2015, cash deployment and its acquisition strategy.

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