Bulletin: Honeywell International Inc. Ratings Not Immediately Affected By Announcement Of Plan To Spin Off Two Business Segments

NEW YORK (S&P Global Ratings) Oct. 10, 2017--S&P Global Ratings said today that its ratings on Honeywell International Inc. (A/Stable/A-1) are not immediately affected by the company's announcement that it plans to spin off its homes and global distribution and transportation systems businesses. Honeywell held a conference call this morning to disclose the results of its strategic portfolio review. On the call, the company announced its intention to spin off two of its business units, which--while reducing its scale and the diversity of its operations--will provide Honeywell with a more focused and higher-growth mix of businesses. Management expects the homes and global distribution business to generate roughly $4.5 billion of annual revenue as a standalone entity and anticipates that the

...NEW YORK (S&P Global Ratings) Oct. 10, 2017--S&P Global Ratings said today that its ratings on Honeywell International Inc. (A/Stable/A-1) are not immediately affected by the company's announcement that it plans to spin off its homes and global distribution and transportation systems businesses. Honeywell held a conference call this morning to disclose the results of its strategic portfolio review. On the call, the company announced its intention to spin off two of its business units, which--while reducing its scale and the diversity of its operations--will provide Honeywell with a more focused and higher-growth mix of businesses. Management expects the homes and global distribution business to generate roughly $4.5 billion of annual revenue as a standalone entity and anticipates that the transportation systems business (turbochargers) will produce roughly $3.0 billion in sales each year. Honeywell expects both of the newly created entities to generate operating margins in the mid-teens...

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