Moody’s turns Teledyne view to positive

Moody's Ratings said it affirmed the Baa3 senior unsecured ratings of Teledyne Technologies Inc. and changed the outlook to positive from stable.

“The ratings affirmation and change in outlook to positive from stable collectively reflect Moody's expectation that Teledyne will maintain robust credit metrics, including significant levels of free cash flow, which will provide the company with considerable financial flexibility. The positive outlook is further supported by the very meaningful improvement in Teledyne's credit metrics over the last two years, following significant debt repayment in the aftermath of its FLIR Systems, Inc. acquisition in 2021,” the agency said in a press release.

During 2024, Moody's said it forecasts sales growth to be in the mid-single-digits with some operating margin expansion towards 19%.

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