S&P upgrades General Dynamics

Standard & Poor’s said it raised its long-term corporate credit rating and issue-level ratings on General Dynamics Corp. to A+ from A. The outlook is stable.

The A-1 short-term rating on the company remains unchanged.

“The upgrade reflects General Dynamics’ improved customer, geographic, and end-market diversity, as the company’s declining sales to the U.S. Army have been replaced by increased international military and business jet sales,” said S&P credit analyst Chris Mooney in a news release. “In addition, the company’s good operational performance has allowed it to post relatively steady profitability in a challenging U.S. defense market environment.”

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