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Johnson Controls Inc. Ratings Raised To 'BBB+' On Improved Credit Measures, Stabilizing End Markets; Outlook Positive Nov 10
Standard & Poors, November 2010
Milwaukee, Wis.-based global auto supplier Johnson Controls Inc.'s revenues, operating margin, EBITDA, and cash flow generation improved year over year in fiscal 2010 (ended Sept. 30, 2010), indicating that the company's end markets have stabilized and that its aggressive restructuring initiatives are producing measurable results. We are revising our intermediate-term view of the company's profitability and cash flow prospects, although we are cautious about the pace of recovery in certain business segments. We are raising the corporate credit and issue-level ratings to 'BBB+' from 'BBB'. The outlook is positive. NEW YORK (Standard & Poor's) Nov. 5, 2010--Standard & Poor's Ratings Services today said it has raised its corporate credit and issue-level ratings on Johnson Controls Inc. (JCI) to 'BBB+' from...
Companies mentioned in this report are: Johnson Controls Inc.
Action: Outlook: Positive
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
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Johnson Controls Inc.