...- Carrier Global Corp. announced it has entered into a definitive agreement to sell its Global Access Solutions security business to Honeywell for $4.95 billion. The sale is expected to close before the end of the third quarter of 2024. - Carrier stated it intends to use the $4 billion in expected net proceeds to pay down debt. - The anticipated debt repayment accelerates our previous view of Carrier's deleveraging trajectory, and we now expect year-end 2024 S&P Global Ratings-adjusted debt leverage in the 3x area, falling to the low- to mid-2x area by year-end 2025, below our upside ratings leverage threshold of 3x. - Therefore, we revised our outlook on Carrier to positive from stable. At the same time, we affirmed all our ratings, including our '###' issuer credit rating. - The positive outlook reflects our view that while Carrier faces execution risk around its integration of Viessmann and announced business exits in an environment of decelerating organic growth, we forecast its S&P...
