New York, August 23 (FinanceEnquiry.com) – Analysts at Moody’s Investors Service affirmed the ratings of United Technologies Corporation (NYSE: UTX) including the company’s A2 senior unsecured and Prime 1 short term ratings. The outlook on the ratings has been negative.
In a research note published yesterday, the analyst says that ratings continues to broadly indicate the company’s large size and geographic scale, its diversified business lines, solid operating margins and stable free cash flow generation.
Goodrich, which had $8.3 billion in sales for the LTM period will be combined with UTC’s Hamilton Sundstrand to form the new UTC Aerospace Systems segment. UTC’s financial leverage is very high for the rating with Moody’s Adjusted Debt to EBITDA around 3 times of proforma basis at closing. The company is a conglomerate which operates globally in the industrial and Aerospace markets.
The company has its headquarters in Hartford, Connecticut and reported revenues of around $58 billion, the analysts say.
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