NY -- Standard&Poor's CreditWire 5/29/98 – Standard&Poor's today affirmed its ratings (see list below) on AlliedSignal Inc.'s following the announcement of a $2.2 billion common share repurchase program extending over two years. Standard&Poor's expects only modest incremental borrowings by AlliedSignal over the course of this program. Furthermore, the company is expected to curtail repurchases if there are material acquisitions. The Morris Township, NJ-based firm's ratings are supported by strong competitive positions in the aerospace, engineered materials, and automotive markets, as well as a good financial condition characterized by solid profitability and cash flow generation. Stability is enhanced by diversity of products and customers, significant aftermarket sales, and rising international revenues. Although improved performance in
