S&P goes positive on Carrier Global

S&P said it revised its outlook for Carrier Global Corp. to positive from stable and affirmed its ratings, including the BBB issuer rating.

“We forecast Carrier's S&P Global Ratings-adjusted debt leverage will fall below our 3x upside threshold over the next 12-24 months. We expect its S&P Global Ratings-adjusted debt leverage will improve to the 3x area by the end of 2024 after it uses proceeds from the announced global access solutions business sale to pay down debt. We forecast leverage to decrease further to the low-to-mid 2x area in 2025.

“This compares to our forecast for leverage in the high-3x area as of the end of 2023 following the company's incremental debt issuance to partially fund the Viessmann acquisition,” S&P said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.