Moody's may lift Trane

Moody's Investors Service said it placed Trane Inc. ratings, including the Baa3 sr. unsecured rating, under review for possible upgrade.

This rating action results from the recent announcement that Ingersoll-Rand Co. Ltd. has executed a definitive agreement to acquire Trane in a transaction valued at $10.1 billion, the agency said.

According to Moody's, Ingersoll's A3 long-term rating is under review for possible downgrade as a result of the proposed transaction.

However, Moody's said that if the funding and execution of the transaction proceed as expected, it is likely that upon closing Ingersoll's long-term rating will be lowered to Baa1 and that the outlook will be stable.

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