S&P upgrades Raytheon on improved credit protection

SAN FRANCISCO (MarketWatch) — Standard & Poor’s said Thursday it upgraded the long-term corporate credit rating of Raytheon Co. to A- from BBB+. S&P also affirmed its A-2 short-term corporate credit rating on Raytheon. The outlook is stable. “The upgrade reflects improving credit protection measures, a favorable near-term environment for defense spending, and expectations of a balanced deployment of significant cash flows,” said Christopher DeNicolo, an S&P credit analyst, in a statement.
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