...ITT Inc.'s (ITT) ratings reflect its conservative financial policies, effective execution of its operating strategy, including acquisitions and financial flexibility to fund discretionary cash deployment. Leverage increased following the sizable acquisition of SPX FLOW, Inc. (SPX Flow) earlier this year and Fitch Ratings expects it to decline below 2x over time as ITT realizes higher earnings and reduces debt. The ratings also incorporate ITT's large installed base, significant aftermarket revenue, and product and geographic diversification. Different timing of cycles across various end-markets mitigates exposure to cyclical demand. ...
