S&P rates Honeywell notes A

S&P said it assigned its A issue-level rating to Honeywell International Inc.'s planned euro- and dollar-denominated senior notes.

“All of our existing ratings on Honeywell are unchanged. Our A long-term issuer credit rating on the company reflects its broad operational scale, strong market positions in its core end markets, and healthy backlog, which will likely support good organic growth relative to its peers, particularly in its long-cycle products,” S&P said in a statement.

The company intends to use the proceeds to repay commercial paper and will use anything left for general corporate purposes.

The outlook is stable.

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