S&P gives Hillenbrand BBB

Standard & Poor's said it assigned its BBB corporate credit rating to Hillenbrand Inc. (formerly Batesville Holdings, unrated).

The outlook is stable.

The agency said that Hillenbrand Inc. will be spun off from Hillenbrand Industries Inc. on March 31 and upon separation, Hillenbrand will pay a $250 million dividend to Hill-Rom Holdings Inc. (formerly Hillenbrand Industries), funded with borrowings from its unrated $400 million revolving credit facility due in 2013.

According to S&P, the ratings on Hillenbrand reflect the company's satisfactory business risk profile based on its market-leading position in the casket business, allowing it to benefit from economies of-scale in both manufacturing and distribution.

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