Moody’s rates DH Switzerland notes A2

Moody's Investors Service said it assigned an A2 rating to the issuance of Swiss Franc-denominated senior unsecured notes by DH Switzerland Finance SA, a recently formed debt-issuing subsidiary of Danaher Corp.

Danaher will unconditionally guarantee the new notes, which will be issued in three tranches: CHF 100 million due December 2017, CHF 540 million due December 2023 and CHF 110 million due December 2028.

The company will repay commercial paper with the proceeds.

Moody's maintains a negative outlook on the A2 senior unsecured and Prime-1 short-term ratings for Danaher, since May 13 when Danaher announced the acquisition of Pall Corp.

The outlook on the new notes issued by DH Switzerland is also negative.

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