S&P Global Ratings has upgraded RTX Corp (RTX) to 'A-' from 'BBB+' with a stable outlook, citing robust aerospace and defense demand and disciplined balance-sheet repair .
Key drivers:
- Projected adjusted debt to EBITDA below 2.5x and FFO to debt above 30%.
- Management on track to pay down remaining $2.9B debt from late 2023 share repurchase.
- Expected free operating cash flow over $9B this year, with further expansion in 2027.
- Strong operational momentum in commercial aerospace (Collins Aerospace, Pratt & Whitney) and defense (Raytheon backlog at $130B, 12-month book-to-bill 2.9x).
This upgrade reflects improved credit quality and operational strength for the defense and aerospace giant.
S&P Global Ratings upgrades RTX to A- on strong demand and debt reduction
STREETINSIDER.COMNov 13, 5:31 PM UTC
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