HON · 10-Q/A · 2026Q2 · Full report
Interest Rate and Refinancing Exposure
HONEYWELL INTERNATIONAL INC · 2026-07-24 · Importance 69 · Surprise 50 · In source text
Honeywell had total borrowings of $33,988 million as of June 30, 2026, compared with $34,580 million at December 31, 2025, including $28,577 million of fixed-rate notes, $2,477 million of commercial paper, and $2,750 million of term loans. Interest and other financial charges increased because of debt issued for pre-separation financing ahead of the Aerospace Spin-Off, net of debt tender offers and redemptions. Moody’s revised Honeywell’s credit outlook to negative on June 25, 2026, while S&P also maintained a negative outlook, potentially affecting future capital-market access and borrowing costs.
Key facts
- On June 25, 2026, Moody’s revised their credit rating outlook from review for downgrade to negative. source
- Interest and other financial charges increased due to the increase in debt from pre-separation debt financing in advance of the Aerospace Spin-Off net of debt tender offers and redemptions. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | negative | contingent | — | On June 25, 2026, Moody’s revised their credit rating outlook from review for downgrade to negative. |