Moody's: Honeywell outlook negative

Moody's Investors Service said it affirmed the A2 long-term and P-1 short-term ratings of Honeywell International, Inc. and revised the outlook to negative from stable.

The action was prompted by Honeywell's plasn to purchase Sperian Protection for about $1.4 billion.

"The rating outlook was revised to negative because funding for the sizeable Sperian acquisition reflects an interruption in our expectation for steady reduction in Honeywell's financial leverage, with measured progress towards metrics that are characteristic of the single-A rating," Bob Jankowitz at Moody's said in a statement.

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