NEW YORK (Standard&Poor's) Jan. 27, 2010--Standard&Poor's Ratings Services said today that its ratings and outlook on Caterpillar Inc. (A/Negative/A-1) and its subsidiaries are not affected by the company's fourth-quarter results. For the quarter, Caterpillar reported a sales decline of 39%, and profit per share was down 67% from the previous year. However, sales improved from the third quarter, and the company affirmed its outlook for 2010, including a 10% to 25% sales increase. Despite improving market conditions, credit measures remain weaker than our expectations at the current rating. Caterpillar's equipment operations unit's funds from operations (FFO) to adjusted total debt declined to about 20% at the end of the third quarter 2009 and likely deteriorated slightly
