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Flowserve Corporation -- Moody's affirms Flowserve's senior unsecured rating at Baa3; changes outlook to stable

Moody's Investors Service (Moody's) affirmed Flowserve Corporation's (Flowserve) Baa3 senior unsecured rating and changed the outlook to stable from negative. The Baa3 rating reflects Moody's expectations for stability in Flowserve's operating and financial performance going forward following completion of its multi-year realignment program, as well as near-term financial benefits from favorable key end market conditions and the company's ongoing Flowserve 2.0 transformation initiative.