S&P raises Zebra Technologies

S&P said it upgraded Zebra Technologies Corp. to BB+ from BB on strong revenue growth and profitability.

“The upgrade reflects Zebra's strong operating performance and sustained commitment to repay debt with excess cash over the last 12 months, which has strengthened credit metrics by more than we previously expected,” S&P said in a press release.

The agency also raised its rating on Zebra’s senior secured debt to BBB- from BB+. The 2 recovery rating is unchanged.

The outlook is stable because S&P said it sees the company continuing to deliver strong operating performance, helped by healthy market demand and improved productivity.

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