Fitch Affirms United Technologies At 'A'; Outlook Revised To Negative

(RTTNews) - Fitch Ratings said Thursday that it has affirmed United Technologies Corp.'s (UTX) Issuer Default Rating at 'A'.

The Rating Outlook is revised to Negative from Stable.

Fitch said the ratings consider United Technologies' consistently strong operating performance, competitive market positions, geographic and product diversification, solid free cash flow, and ability to generate favorable margins through economic cycles.

The Negative Rating Outlook reflects United Technologies' leverage, which remains weak for the ratings while the company reduces debt used to fund last year's acquisitions, the rating agency said.