Fitch Raises TechnipFMC to BBB After Debt Cuts and Strong Cash Flow
Fitch Ratings upgraded TechnipFMC plc and FMC Technologies, Inc. to BBB from BBB-, also moving the company's senior unsecured revolver and unsecured notes to BBB. The rating agency assigned an F2 Short-Term IDR and an F2 rating to TechnipFMC's $1.0 billion commercial paper program and left the Rating Outlook at Stable. Fitch pointed to a roughly $6…