Fitch lifts Carrier

Fitch Ratings said it upgraded Carrier Global Corp.'s long-term issuer default rating and long-term debt ratings to BBB from BBB-.

“The upgrade to Carrier's long-term ratings reflects Carrier's progress toward executing planned dispositions and repaying gross debt ahead of previous expectations leading to EBITDA leverage below 2.5x, consistent with BBB tolerances. The rating also considers the expected benefits from Carrier's business portfolio realignment that Fitch believes will lead to further improvements in the company's operating and financial profiles,” the agency said in a statement.

The outlook is stable.

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