We expect Ireland-based security products and services producer Allegion PLC to maintain good operating performance over the next several quarters, with debt to EBITDA leverage measures of 3x or less. We are revising the rating outlook on Allegion to positive from stable. We are affirming our ratings, including our 'BB+' corporate credit rating on Allegion and our 'BBB' and 'BB+' issue ratings on the company's senior secured bank loans and senior unsecured notes, respectively. The outlook is positive, reflecting our view that we could raise Allegion's corporate credit rating to investment grade over the next year if it maintains its good operating performance and prudent financial policies. On Oct. 17, 2014, Standard&Poor's Ratings Services revised its rating outlook
