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News Breaks | | | | October 12, 2012 | | 08:59 EDT |  | CMI | Cummins upgraded to A by Fitch
Fitch Ratings has upgraded Cummins, Inc.'s Issuer Default Rating and long-term debt ratings to 'A' from 'A-'. The upgrade of CMI's ratings incorporates the company's strong operating profile, consistently low leverage, financial flexibility, and long term improvement in operating margins. The company recently announced that financial results would be weaker in 2012 than originally anticipated due to a slowing global economy. Fitch's ratings take into consideration cyclicality in CMI's end markets and the company's demonstrated ability to generate positive free cash flow through a downturn. | |
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