S&P revises Hubbell view to negative

Standard & Poor's said it revised its outlook on Hubbell Inc. to negative from stable and affirmed all of its ratings, including the A/A-1 corporate credit rating.

"The outlook revision reflects our expectation that Hubbell's credit measures will weaken because of the company's decision to repurchase $250 million of its common stock and pay $200 million to its class A stockholders, which it will partially fund with debt," S&P credit analyst Svetlana Olsha said in a news release.

"As a result, we believe that the company will have minimal headroom for debt-financed acquisitions or additional sizeable share repurchases going forward. We also believe that this could indicate a departure from the conservative financial policies that the company has adhered to in the past."

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