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S&P rates Emerson notes A
Standard & Poor's said it assigned an A rating to Emerson Electric Co.'s (A/A-1) $500 million 4.875% senior unsecured notes due 2019.
The outlook is stable.
Proceeds will be used for general corporate purposes and to repay existing debt, including a portion of its outstanding commercial paper borrowings.
The agency said the ratings reflect the company's strong business risk profile as a leading producer of industrial, electrical and electronic products and systems; its solid liquidity and cash flow protection measures; and its moderate financial policies.
On the downside, the global economic downturn is affecting order intake as customers' curtail capital spending decisions, S&P said, and operating performance in shorter-cycle or consumer-focused segments has been challenging in recent quarters and will likely remain so this year.
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