S&P changes Eaton to stable

S&P said it affirmed its ratings, including its A- corporate credit rating, on Eaton Corp. plc.

The agency also revised the outlook to stable from negative.

S&P said the company has reduced its debt leverage through rebounding organic sales growth, productivity gains, margin expansion and the rising value of its pension assets.

“The affirmation and outlook revision reflect our view that favorable macroeconomic and end-market conditions, particularly within Eaton's hydraulics and vehicle segments, will support the company's organic growth while cost management and productivity gains from its restructuring program will support margin expansion,” S&P said in a news release.

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