latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/s-p-upgrades-raytheon-technologies-to-a-after-merger-completed-57907530 content esgSubNav
In This List

S&P upgrades Raytheon Technologies to A- after merger completed


Managed Services Insights: The client lifecycle management solution


Global M&A By the Numbers: Q1 2024

Case Study

An International Logistics Company Streamlines Transfer Pricing for Its Extensive Network of Subsidiaries


Next in Tech | Episode 168: AI Data Strategies

S&P upgrades Raytheon Technologies to A- after merger completed

S&P Global Ratings raised some of the credit ratings of United Technologies Corp., the new aerospace and defense giant created by the all-stock merger of United Technologies Corp. and Raytheon Co. that closed April 3.

Raytheon Technologies' long-term issuer and unsecured debt ratings and its subsidiaries were upgraded to A- from BBB+, which reflected the ratings of United Technologies. The short-term ratings were affirmed at A-2. The new outlook is stable as the ratings were removed from CreditWatch with positive implications.

"The upgrade reflects improved credit metrics following the transactions," S&P Global Ratings said, citing Raytheon Co.'s low leverage.

S&P Global Ratings downgraded Raytheon Co.'s long-term issuer credit rating to A- from A+ and its short-term rating to A-2 from A-1. The ratings were removed from CreditWatch with negative implications and were subsequently withdrawn.

Raytheon Co.'s unsecured debt rating was also downgraded to A- from A+ and removed from CreditWatch.

This S&P Global Market Intelligence news article contains information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.