In a groundbreaking announcement today, ITT Inc. revealed that Moody’s Ratings has upgraded the company’s rating to Baa1 from Baa2, while also affirming a Prime-2 short-term commercial paper rating for ITT. This significant upgrade has been attributed to Moody’s positive outlook on ITT’s sustained profitability, cash generation, and financial policies over the coming years.
Here are some key points to consider from Moody’s ratings upgrade for ITT:
- Moody’s expects ITT to maintain its profitability and cash flow improvements consistently, reinforcing the company’s well-balanced financial strategy.
- The rating agency also anticipates that ITT’s market share growth and successful conversion of their substantial backlog into sales will contribute to continued operating profit expansion.
This recognition from Moody’s signifies the exemplary performance of the ITT teams, highlighting their ability to drive profitable growth, execute strategic acquisitions, and generate strong cash flows for future investments. Luca Savi, the Chief Executive Officer and President of ITT, expressed gratitude for Moody’s acknowledgment, emphasizing ITT’s commitment to innovation and execution.
ITT, a renowned manufacturer of critical components and technology solutions for the transportation, industrial, and energy sectors, is dedicated to delivering lasting solutions through collaboration with its clients. With a global presence in over 35 countries and sales in approximately 125 countries, ITT continues to uphold a legacy of innovation and customer-focused services.
For further details on the Moody’s press release regarding ITT’s ratings upgrade, click here.
In conclusion, ITT’s improved ratings reflect the company’s unwavering commitment to excellence, innovation, and financial stability. This upgrade serves as a testament to ITT’s dedication to delivering value to its customers and stakeholders, ensuring sustained growth and success in the competitive market landscape.
