...December 14, 2023 BOISE (S&P Global Ratings) Dec. 14, 2023--S&P Global Ratings today said that Carrier Global Corp.'s (###/Positive/A-2) announced definitive agreement to sell its commercial refrigeration business to Haier Group Corp. (not rated) for about $500 million of expected net proceeds provides additional support to our forecast for Carrier to reduce its S&P Global Ratings-adjusted debt leverage below 3x over the next 12-24 months. Carrier announced it intends to use the proceeds for debt repayment, which comes in addition to the previously announced $4 billion in expected net proceeds from the sale of its Global Access Solutions business. We expect the commercial refrigeration transaction to close in the second half of 2024. While we acknowledge this transaction could modestly accelerate our previous view of Carrier's deleveraging trajectory, our ratings and positive outlook are unchanged because we believe Carrier faces potential execution risks around its integration of the Viessmann...
