S&P rates Lockheed Martin notes BBB+

Standard & Poor’s said it assigned its BBB+ issue-level rating to Lockheed Martin Corp.’s proposed unsecured notes, which will be issued in tranches with six different maturities.

The company will use the proceeds from these notes to repay its $6 billion of borrowings under the bridge loan that was put in place to fund its acquisition of Sikorsky – which closed on Nov. 6 – as well as its outstanding commercial paper borrowings. This transaction will not alter Lockheed’s credit metrics, and S&P’s corporate credit rating and outlook on the company are unchanged, the agency said.

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