High aftermarket exposure, strong market positions and a strong financial risk profile support the rating. The low profitability and cyclicality of the OEM business are rating constraints. The revised Outlook reflects the business risks from tariffs.

Monitoring review annoucement.

Strong market positions, a broad customer base and high aftermarket exposure support the rating. Moderate profitability and volatile free cash flow are rating constraints.

The rating is supported by strong market positions, a broad customer base and the high aftermarket exposure. Moderate profitability and volatile free cash flow cover are rating constraints.