Fitch Affirms Parker-Hannifin's Ratings; Outlook Stable

(RTTNews) - Fitch Ratings said Wednesday that it has affirmed Parker-Hannifin Corp.'s (PH) ratings including its 'A' long-term Issuer Default Rating.

The ratings affect about $2.8 billion of total debt.

The Rating Outlook is Stable.

Fitch said the ratings and Outlook reflect Parker-Hannifin's strong market positions with long-standing customer relations solid financial flexibility, conservative financial policies, Fitch's near-term expectations for modest revenue growth, stable operating profitability, solid free cash flow, and strengthening credit protection measures.