Standard & Poor’s Ratings Services said today that it raised its corporate credit and senior unsecured ratings on Motorola Inc. to “BBB” from “BB+” and removed the ratings from CreditWatch Positive, where they were placed on Sept. 2.
Motorola split into two companies on Tuesday — Mobility, targeting consumers, and Solutions, for professionals. S&P said it has also changed Motorola’s issuer name to Motorola Solutions Inc. and assigned a stable outlook.
“The higher rating incorporates our view that the business risk profile of the new Motorola Solutions is satisfactory,” said Standard & Poor’s credit analyst Lucy Patricola in a statement. This is based on the “stability of its markets, the high priority of its public safety solutions, and the high barriers to entry that protect its competitive position,” she added.
