Moody's rates Allegion notes Ba2

Moody's Investors Service said it assigned a provisional Ba2 rating to Allegion U.S. Holding Company Inc.'s proposed $300 million senior unsecured notes due 2021.

Concurrently, Moody's affirmed the company's Ba1 corporate family rating, Ba1-PD probability of default rating and SGL-2 speculative-grade liquidity rating.

The outlook is stable.

Moody's said it anticipates that the proceeds from the proposed $300 million senior unsecured notes due 2021 will be used execute the spin-off from Ingersoll Rand.

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