Fitch affirms Honeywell

Fitch Ratings said it affirmed Honeywell International Inc.'s long-term rating at A and short-term rating at F1, along with its issuer default rating at A, senior unsecured bank credit facilities at A, senior unsecured debt at A, short-term issuer default rating at F1 and commercial paper rating at F1.

The outlook is stable.

The ratings incorporate the company's solid operating performance, improved business portfolio, geographic and product diversification, disciplined acquisition strategy and strong free cash flow and liquidity, Fitch said.

Most of the company's end markets are recovering, which should support the company's financial results and credit metrics in the near to medium term, the agency said.

Honeywell could realize further operating improvements related to product development, business mix, cost controls and expansion into high growth markets, Fitch said.

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