S&P ups Hubbell view to stable

S&P said it affirmed all of its ratings, including the A long-term corporate credit rating and A-1 short-term rating, on Hubbell Inc. and revised the outlook to stable from negative.

The rating affirmation follows S&P’s reassessment of Hubbell's business risk profile, “which we now view as stronger, stemming from our assessment of the company's very low profitability volatility over the last seven years,” S&P said in a news release.

“Additionally, we believe that the company's continued spending on acquisitions and share repurchases will delay any meaningful deleveraging, thus decreasing prospects for Hubbell to maintain FFO to debt meaningfully above 60% and debt leverage below 1.5x during the next 12-24 months as we projected.”

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