Fitch Cuts Honeywell Outlook – Analyst Blog
Zacks Market Commentaries (August 20th, 2009) Writes:
Lower earnings and cash flow have resulted in a leverage which is above normal levels for maintaining an “A" assigned to the company’s long-term default rating, unsecured bank credit and senior unsecured debt program. Fitch has an "F1" rating on Honeywell’s short-term issuer default and commercial papers.
Although the global recession has hurt the company’s short-term outlook and 2009 results, Honeywell plans to continue its investments to ensure growth when the economy rebounds. It intends to reduce debt to help limit the impact of weaker financial results on leverage in 2009. The company continues to target strong financial metrics to improve its financial flexibility and ability to maintain a solid competitive edge.
Honeywell had cash and cash equivalents of
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