Moody's Investors Service on Thursday upgraded Flowserve Corp.'s corporate family rating, saying that the maker of pumps, valves and mechanical seals is showing it can weather the recession.
Moody's raised Flowserve's corporate family rating to "Ba1" from "Ba2." It also raised the probability of default rating to "Ba2" from "Ba3" and the rating for its senior secured credit facility to "Baa3" from "Ba1."
The ratings cover $950 million in debt.
Moody's said Flowserve, based in …
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