Fitch Downgrades Lockheed Martin to 'BBB+'; Removes from Watch Negative; Outlook Stable (Fitch Inc)

(Source: Fitch Inc) 06 Nov 2015 8:46 PM GMT/UTC Fitch Ratings-New York-06 November 2015: Fitch Ratings has downgraded and removed from Rating Watch Negative Lockheed Martin's (LMT) long-term ratings to 'BBB+' from 'A-'. LMT's short-term ratings are affirmed at 'F2'. The Rating Outlook is Stable. A full list of ratings actions follows at the end of this release. KEY RATING DRIVERS The downgrade incorporates the impact on LMT's credit profile from the acquisition of Sikorsky Aircraft from United Technologies ('A-'/Outlook Stable) for $9 billion cash. The transaction closed on Nov. 6, and it will be funded mostly with debt. The downgrade also reflects LMT's cash deployment strategy, which has...