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S&P gives Corning notes BBB+
S&P said it assigned its BBB+ issue-level rating to Corning Inc.’s proposed dollar-denominated senior unsecured notes due 2049 and 2079.
The offering does not affect ratings on the company’s existing unsecured debt, the agency said.
“The company’s debt maturity profile is manageable with about $356 million due in 2020 and 2021. We expect the company to use the proceeds from these notes for general corporate purposes, which may include repurchasing common stock, paying dividends, repaying existing debt, and making investments including acquisitions,” S&P said in a press release.
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