STAMFORD, Conn.–(BUSINESS WIRE)–November 27, 2024– ITT Inc. (NYSE: NYSE:) as we speak introduced that Moody’s (NYSE:) Scores (Moody’s) upgraded the corporate’s score to Baa1 from Baa2. Moody’s additionally affirmed a Prime-2 quick time period industrial paper score for ITT.
In its press launch, Moody’s famous the rankings improve displays its expectation that ITT will maintain enhancements in profitability and money technology and proceed its well-balanced monetary coverage over the subsequent a number of years. Moody’s additionally expects the corporate’s market share positive factors and conversion of its sturdy backlog to gross sales will assist continued working revenue progress.
This rankings improve is a testomony to the constant efficiency of the ITT groups, day in and time out, which enabled us to develop profitably, execute strategic acquisitions and drive sturdy money technology to fund future progress investments. That is one other instance of the ITT differentiation centered round execution and innovation. We’re grateful for the popularity by Moody’s, stated Luca Savi, Chief Govt Officer and President of ITT.
The Moody’s press launch on ITT’s rankings improve could be accessed by clicking right here.
About ITT
ITT is a diversified main producer of extremely engineered essential elements and customised know-how options for the transportation, industrial, and vitality markets. Constructing on its heritage of innovation, ITT companions with its clients to ship enduring options to the important thing industries that underpin our trendy lifestyle. ITT is headquartered in Stamford, Connecticut, with workers in additional than 35 nations and gross sales in roughly 125 nations. For extra info, go to www.itt.com.
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