Fitch affirms Allegion

Fitch Ratings said it affirmed the long-term issuer default rating and senior unsecured debt of Allegion plc and Allegion U.S. Holding Co. Inc. at BBB-.

The outlook is stable.

The agency said that over the medium term, the company’s business will likely be supported by continued growth in the North American non-residential and residential construction markets and a broad but slow shift towards greater adoption of electromechanical locks.

The company's geographic diversification and broad usage across residential, commercial and institutional markets help moderate cyclical fluctuations associated with construction markets, Fitch noted.

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