Harris Corp. recently announced that it has agreed sell its government information technology (IT) services business to Veritas Capital. The company plans to use the proceeds from the divestiture to contribute to its pension plan and repurchase some of its shares. Therefore, we are affirming all of our ratings on defense contractor Harris Corp., including our 'BBB-' corporate credit rating. The stable outlook reflects that, although the company's credit ratios will be somewhat weaker than expected for the current rating in fiscal-year 2017, we expect that they will improve thereafter as Harris' adjusted debt levels decline and its organic growth resumes. On Jan. 31, 2017, S&P Global Ratings affirmed all of its ratings on Harris Corp., including our 'BBB-' corporate
