Fitch: Hubbell view negative

Fitch Ratings said it affirmed the ratings of Hubbell Inc., including the long-term issuer default rating at A and short-term issuer default rating at F1.

The agency also affirmed Hubbell’s senior unsecured credit facilities at A, senior unsecured debt rating at A, short-term issuer default rating at F1 and commercial-paper rating at F1.

The outlook also was revised to negative from stable.

The ratings consider Hubbell's solid operating performance over the long term, balanced against recently softer results and more aggressive financial policies, Fitch said.

The negative outlook reflects a shift in Hubbell's credit metrics to levels that are at the weak end of expectations for the A rating, the agency said.

Fitch said it believes that Hubbell's credit metrics could be sustained at these levels for an extended period or weaken further should sales or margins come under additional pressure or acquisition spending exceeds free cash flow.

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