S&P rates Emerson Electric notes A

S&P said it assigned an A issue-level rating to Emerson Electric Co.'s proposed euro-denominated senior unsecured notes.

The company will issue the notes in two tranches, one with a seven-year tenor due 2025 and the other with a 11-year tenor due 2029.

The proceeds will be used from the notes to pay down the outstanding borrowings under its commercial-paper program, which stood at about $935 million as of the end of fiscal year 2018, S&P said.

All of the other ratings on Emerson, including the A long-term issuer credit rating and A-1 short-term rating, are unchanged.

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