ITT Maintains Investment Grade Ratings with Stable Outlook Following Announcement of SPX FLOW Acquisition and Successful Equity Offering

Key Terms

commercial paper financial

Short-term IOUs issued by companies to raise cash quickly, sold to investors for a fixed, brief period (usually up to a few months) and repaid with interest at maturity. Think of it as a business borrowing from the public without putting up collateral, like a friend asking to borrow money for a few weeks with a promise to pay back a bit more. Investors watch commercial paper to gauge a company’s short-term funding health and credit risk; difficulty issuing it or rising yields can signal liquidity stress or higher perceived risk.

issuer default rating financial

An issuer default rating is a credit score assigned by a rating agency that expresses how likely a company or government is to miss interest or principal payments on its debt. Investors use it like a reliability grade or weather forecast for credit risk: a higher rating signals lower chance of loss, can make borrowing cheaper, and helps decide whether bonds or debt-linked investments are worth the risk.

underwritten public offering financial

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

STAMFORD, Conn.--(BUSINESS WIRE)-- December 16, 2025-- ITT Inc. (NYSE: ITT) today announced that leading ratings agencies Moody’s, S&P Global Ratings and Fitch Ratings have reaffirmed the company’s current investment grade credit ratings with a stable outlook following the announcement of its agreement to acquire SPX FLOW and the closing of its underwritten public offering of $1.31 billion of common stock.

The ratings agencies that reaffirmed ITT’s credit ratings include:

• Moody’s, which affirmed ITT’s senior unsecured rating at Baa1 and commercial paper rating at Prime-2, both with a stable outlook. Moody’s cited ITT’s diversified operating model, consistent earnings and strong cash generation.
• S&P Global Ratings, which affirmed its BBB issuer credit rating and A-2 short-term rating for ITT. S&P noted that ITT’s history of prudent capital management supports the stable outlook, despite a near-term rise in leverage.
• Fitch Ratings, which affirmed ITT’s BBB+ long-term Issuer Default Rating and F1 short-term rating, both with a stable outlook. Fitch highlighted ITT’s conservative capital structure, strong free cash flow and commitment to reducing leverage below 2x within two years post-acquisition.

“I want to thank Moody’s, S&P and Fitch for their continued partnership and the diligence they put into analyzing ITT’s credit ratings. Once the SPX FLOW transaction closes, ITT is committed to deleveraging fast by implementing our synergy plan and by enabling SPX FLOW’s growth in order to maintain our investment grade ratings. We successfully completed a $1.31 billion equity offering and we have strengthened our balance sheet to fund the SPX FLOW acquisition. Our strong financial position and focus on execution position us for long-term value creation,” said ITT’s Senior Vice President and Chief Financial Officer Emmanuel Caprais.

About ITT

ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial and energy markets. Building on its heritage of innovation, ITT partners with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. ITT is headquartered in Stamford, Connecticut, with employees in more than 35 countries and sales in approximately 125 countries.

ITT-O

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Media:

Phil Terrigno

+1 914-641-2143

phil.terrigno@itt.com



Investors:

Emmanuel Caprais

+1 914-641-2162

investors@itt.com

Source: ITT Inc.