Despite weaker sales, largely because of currency headwinds, Honeywell has expanded its profit margins and continues to generate solid free cash flow. We are affirming our 'A' corporate credit rating on the company. We have revised our assessment of the company's cash flow/leverage, as well as our assessments of the diversification and financial policy modifiers. The stable outlook reflects our view that the company's solid profitability and strong free cash flow will allow it to maintain relatively conservative credit measures consistent with the existing ratings. On Nov. 6, 2015, Standard&Poor's Ratings Services affirmed its 'A' corporate credit rating and all other ratings on Morris Township, N.J.-based Honeywell International Inc. The outlook remains stable. In addition, we revised our
