S&P provides A to Hubbell notes

Standard & Poor's said it assigned its A issue-level rating to Hubbell Inc.’s proposed $300 million senior unsecured notes due 2026.

The company plans to use the proceeds to repay its outstanding commercial paper borrowings and for general corporate purposes.

All existing ratings, including the A/A-1 corporate credit rating, remain unchanged.

S&P said the combination of its satisfactory assessment of Hubbell's business risk profile and its minimal assessment of the company's financial risk profile results in two possible anchor outcomes: a and a-. The agency chose to assign the a anchor to Hubbell because it believes that the company's business risk profile will be at the higher end of the satisfactory category.

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