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S&P gives Genuine Parts notes BBB
S&P said it assigned its BBB issue-level rating to Genuine Parts Co.'s planned senior unsecured note offering. All the agency’s other ratings on Genuine, including the BBB long-term issuer credit rating, are unchanged. The agency affirmed Genuine’s ratings in October.
The company will use the proceeds to finance most of its $1.3 billion acquisition of Kaman Distribution Group.
The outlook is stable.
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