Research Update: Johnson Controls Inc. Jan 03
- ID: 2085835
- January 2003
- Standard & Poors
On Jan. 28, 2003, Standard & Poor's Ratings Services raised its long-term corporate credit rating on Milwaukee, Wis.-based Johnson Controls Inc. to 'A' from 'A-' and the short-term corporate credit rating on the company to 'A-1' from 'A-2', reflecting its solid financial profile and strong operating performance during the past two years despite difficult industry conditions. The outlook is stable. The company has total debt of about $2.5 billion. Johnson Controls is a leading provider of automotive components and systems and building control devices. The automotive parts industry has been very challenging in recent years due to reduced and erratic production schedules during the last quarter of 2000 and much of 2001, intensified pricing pressure from customers struggling to improve...
Companies mentioned in this report are: Johnson Controls Inc.,Hoover Universal Inc.
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