Fluor Debt Upgraded: Standard & Poor’s Corp....
From Times Staff and Wire Reports
Fluor Debt Upgraded: Standard & Poor’s Corp. has upgraded its rating on Fluor Corp. senior debt to A from BBB+. The higher credit rating, which affects Fluor’s $80 million in long-term debt, will enable the company to borrow at lower cost. S&P; noted that Irvine-based “Fluor has significantly improved its balance sheet in recent years.” But the rating service added that “the long-term cyclicality in engineering and construction over time will limit improvements in credit quality.”
