S&P gives Hubbell notes A

Standard & Poor's said it assigned an A rating to Hubbell Inc.'s proposed issuance of $300 million of senior unsecured notes due 2022. These notes are a drawdown from Hubbell's universal shelf registration.

The proceeds will be used to fund the company's recently announced debt tender offer for its outstanding $200 million notes due 2012 and for general corporate purposes.

The rating reflects an expectation that Hubbell will continue to maintain credit measures in line with requirements of the current rating, S&P said.

Despite continued weakness in the company's nonresidential construction end market, modest growth in its other end markets, along with contributions from the 2009 acquisition of FCI Americas Inc., should more than offset this decline, the agency said.

The company has demonstrated solid cash flow generation through the downturn and has maintained a conservative financial policy, S&P said.

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