S&P gives A to Emerson Electric notes

Standard & Poor’s said it assigned its A issue-level rating to Emerson Electric Co.’s proposed $1 billion senior unsecured notes due 2021 and 2025.

The company expects to use the proceeds for general corporate purposes and to repay commercial paper borrowings.

S&P said its A corporate credit rating, A-1 short-term rating and stable outlook on Emerson Electric, as well as ratings on its existing debt, all remain unchanged.

The ratings on Emerson Electric reflect S&P’s assessment of a “strong” business risk and “minimal” financial risk profile for the company, which results in an aa- anchor score. The “negative” financial policy modifier on Emerson lowers the rating by two notches, S&P said in a news release.

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