Although U.S.-based Textron Inc.'s credit measures likely deteriorated in 2014 because of the mostly debt-financed Beechcraft acquisition, we expect steady improvement in 2015 and 2016. We are raising our ratings on Textron Inc., including raising the corporate credit ratings to 'BBB/A-2' from 'BBB-/A-3'. The stable outlook reflects our expectation that credit ratios will improve in the next 12-24 months because of higher demand in most markets and improving profitability. On Jan. 13, 2015, Standard&Poor's Ratings Services raised its ratings on Textron Inc. one notch, including raising the corporate credit rating to 'BBB/A-2' from 'BBB-/A-3'. The outlook is stable. The upgrade reflects the so-far successful integration of Beechcraft, improving credit measures after the mostly debt-financed acquisition, in part thanks
