S&P: Smiths lifted to stable

Standard & Poor's said it revised its outlook on Smiths Group plc to stable from negative and affirmed its BBB+ long-term corporate credit and senior debt ratings, along with its A-2 short-term corporate credit rating.

The outlook revision reflects an improvement in the group's credit metrics, business risk profile, profitability and cash generation capabilities, as well as its strong liquidity, S&P said.

The company's strong end-market diversification and cash flow generation capability have allowed it to weather a period of significant weakness in the general economic environment and position it well for future growth, S&P said.

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