Home Credit Ratings and Research S&P Global Ratings’ Credit Research Allegion PLC

Summary: Allegion PLC

Published Apr 18, 2014

2528 words — Published Apr 18, 2014

Price US$ 225.00 | Buy this Report Now

About This Report

Abstract:

Our 'BB+' rating on Allegion PLC is derived from: Our anchor of 'bbb-', based on our "satisfactory" business risk and "intermediate" financial risk profile assessments for the company. Our application of an unfavorable comparable rating analysis modifier because the company was spun off from Ingersoll-Rand PLC in 2013 and has a limited track record of operating and financial performance as a stand-alone entity. Strong brand names and leading market positions in residential and commercial lockset and security products Good profitability expected over the next several years Very diverse customer base and distribution channels Demand for Allegion's products is subject to cyclical new construction markets Solid track record of consistent cash flow generation as a subsidiary of former parent Ingersoll-Rand Adequate

Brief Excerpt:

RESEARCH Summary: Allegion PLC Publication date: 18-Apr-2014 Primary Credit Analyst: Thomas J Nadramia, New York (1) 212-438-3944; thomas.nadramia@standardandpoors.com Secondary Contact: Maurice S Austin, New York (1) 212-438-2077;...

Report Type:

Summary

Issuer

Allegion PLC

GICS

Building Products (20102010)

Sector

Global Issuers

Country

Ireland

Region

United States

Format:

HTML

Allegion PLC Outlook Revised To Positive; 'BB+' Corporate Credit Rating Affirmed – 2014/10/17 – US$ 150.00

Research Update: Allegion PLC Outlook Revised To Positive; 'BB+' Corporate Credit Rating Affirmed – 2014/10/17 – US$ 225.00

Allegion PLC's Proposed $300 Million Senior Unsecured Notes Rated 'B+' – 2015/09/11 – US$ 150.00

Research Update: Allegion PLC's Proposed $300 Million Senior Unsecured Notes Rated 'BB+' – 2015/09/11 – US$ 225.00

Allegion PLC Corporate Credit Rating Raised To 'BBB-', Outlook Stable; Other Rating Actions Taken – 2016/06/28 – US$ 150.00

Allegion US Holding Co. 'BBB' And 'BB+' Issue Ratings Unchanged Following Upsize Of Term Loan – 2013/09/24 – US$ 150.00

Allegion PLC Assigned 'BB+' Corporate Credit Rating; Proposed Bank Facilities Rated 'BBB', Notes Rated 'BB+' – 2013/09/11 – US$ 150.00

Research Update: Allegion PLC Assigned 'BB+' Corporate Credit Rating; Proposed Bank Facilities Rated 'BBB', Notes Rated 'BB+' – 2013/09/11 – US$ 225.00

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Summary: Allegion PLC" Apr 18, 2014. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Allegion-PLC-1303337>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Allegion PLC Apr 18, 2014. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Allegion-PLC-1303337>

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