Honeywell International Inc.: Rating Report

On August 2, 2019, DBRS Limited (DBRS) confirmed the Issuer Rating and the Senior Unsecured Debt rating of Honeywell International Inc. (Honeywell or the Company) at “A” and Honeywell’s Short-Term Debt rating at R-1 (low), all with Stable trends. The confirmation reflects that the Company’s overall credit profile remains commensurate with the current ratings. Honeywell reported improving operating results in 2018 through the first half of 2019 despite worsening global economic conditions, primarily due to the concerns about the trade dispute between China and the United States. DBRS anticipates Honeywell will maintain the positive trend in earnings because of the strength and diversity (products and geographies) of its businesses and its track record in improving productivity despite headwinds in the global economy. DBRS also expects the Company’s ratings will remain Stable in the foreseeable future.