Harris Corp. Ratings Lowered To 'BBB-' Upon Excelis Aquisition Close

Global defense and communications solutions provider Harris Corp. closed its acquisition of Exelis Inc. on May 29, 2015. We are lowering our corporate credit rating and senior unsecured debt ratings on Harris Corp. to 'BBB-' from 'BBB+' and removing it from CreditWatch, where we placed it with negative implications on Feb. 6, 2015. We are also lowering the commercial paper (CP) rating to 'A-3' from 'A-2' at the same time. The stable outlook reflects Harris' enhanced business position following the Exelis acquisition, our expectation that the company will not encounter major integration issues, and that it will apply much of its discretionary cash flow toward debt reduction. SAN FRANCISCO (Standard&Poor's) May 29, 2015--Standard&Poor's Ratings Services lowered

...+ Global defense and communications solutions provider Harris Corp. closed its acquisition of Exelis Inc. on May 29, 2015. + We are lowering our corporate credit rating and senior unsecured debt ratings on Harris Corp. to '###-' from '###+' and removing it from CreditWatch, where we placed it with negative implications on Feb. 6, 2015. We are also lowering the commercial paper (CP) rating to 'A-3' from 'A-2' at the same time. + The stable outlook reflects Harris' enhanced business position following the Exelis acquisition, our expectation that the company will not encounter major integration issues, and that it will apply much of its discretionary cash flow toward debt reduction. SAN FRANCISCO (Standard & Poor's) May 29, 2015--Standard & Poor's Ratings Services lowered its corporate credit rating and issue-level ratings on Melbourne, Fla.-based Harris Corp. to '###-' from '###+' and removed it from CreditWatch, where we placed it with negative implications on Feb 6, 2015. At the same time,...

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