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TEXT-Fitch raises Goodrich to 'A' on acquisition

Tue Jul 31, 2012 1:38pm EDT

July 31 - Fitch Ratings has upgraded the Issuer Default Rating (IDR) and
long-term debt ratings for Goodrich Corporation (Goodrich) to 'A' from
'BBB+' and removed the ratings from Rating Watch Positive following completion
of the acquisition of Goodrich by United Technologies Corporation (UTC)
last week. The rating Outlook is Stable. Goodrich's bank facility has been
canceled, and Fitch has withdrawn the rating. The upgrade reflects UTC's strong
credit profile and implied support for Goodrich although UTC has not assumed or
guaranteed Goodrich's debt. Fitch has affirmed UTC's ratings at 'A' as described
in a separate press release.

Fitch has taken the following rating actions for Goodrich:

--Issuer Default Rating (IDR) upgraded to 'A' from 'BBB+';
--Senior unsecured notes upgraded to 'A' from 'BBB+';
--Senior unsecured bank credit facility 'BBB+' withdrawn.

Additional information is available at 'www.fitchratings.com'. The ratings above
were solicited by, or on behalf of, the issuer, and therefore, Fitch has been
compensated for the provision of the ratings.

Applicable Criteria and Related Research:
--'Corporate Rating Methodology' (Aug. 12, 2011);
--'Treatment and Notching of Hybrids in Nonfinance Corporate and REIT Credit
Analysis' (Dec. 15, 2011).

Applicable Criteria and Related Research:
Corporate Rating Methodology
Treatment and Notching of Hybrids in Nonfinancial Corporate and REIT Credit
Analysis
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