September 5, 2017 / 12:52 PM / a year ago

United Tech sees limited divestment; needs cash flow to reduce debt

NEW YORK, Sept 5 (Reuters) - Aerospace and industrial company United Technologies Corp said on Tuesday it is not planning quick divestments of businesses after it agreed to acquire avionics supplier Rockwell Collins Inc in a $23 billion deal.

The company needs cash flow from all of its businesses to help reduce debt and retain its investment-grade credit rating, United Tech Chief Executive Officer Greg Hayes said on a conference call with analysts.

United Tech expects to borrow $15 billion to fund the deal and assume $7 billion in Rockwell Collins debt. (Reporting by Alwyn Scott; Editing by Nick Zieminski)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below