Fitch revises Allegion view to positive

Fitch Ratings said it revised the outlook to positive from stable and affirmed the long-term issuer default rating and senior unsecured debt of Allegion plc (ALLE) and Allegion US Holding Co. Inc. at BBB-.

The outlook revision reflects Fitch's expectation that leverage will remain around the current level of 2.3x through the intermediate term and that capital deployment will continue to be disciplined. Fitch will monitor the company's ability to manage through supply chain challenges in the U.S., ALLE's largest market, and cost inflation pressures before considering a rating upgrade,” the agency said in a press release.

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