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Prospect News home > News index > List of issuers E > Headlines for Emerson Electric Co. > News item |
S&P rates Emerson notes A
Standard & Poor's said it assigned an A rating to Emerson Electric Co.'s (A/A-1) new $600 million senior unsecured notes with maturities in 2020 and 2039, which are a drawdown from Emerson's shelf registration.
The outlook is stable.
The proceeds will be used for general corporate purposes, acquisitions, including the company's pending acquisition of Avocent Corp., and to repay outstanding commercial paper borrowings.
The agency said the ratings on Emerson reflect the company's strong business risk profile as a leading producer of industrial, electrical and electronic products and systems as well as its modest financial risk profile marked by consistent cash flow generation and moderate financial policies.
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