Fitch to give Eaton notes A

Fitch Ratings said it expects to assign a rating of A to Eaton Corp.'s planned $750 million of fixed-rate senior unsecured notes.

The agency said that the new notes will consist of a mix of five-year and 10-year maturities, adding that it currently rates Eaton's long-term debt and commercial paper at A/F1, respectively.

The outlook is negative.

The agency said that the new notes will be used to repay commercial paper backstopped by the company's bridge facility, which supported Eaton's recent acquisitions of Moeller and Phoenixtec.

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