Fitch applies A to Hubbell notes

Fitch Ratings said it assigned a rating of A to Hubbell Inc.’s proposed $300 million issuance of 10-year senior unsecured notes.

Proceeds will be used to repay commercial paper and for general corporate purposes.

The agency currently rates Hubbell's long- and short-term issuer default ratings at A/F1.

The outlook is stable.

Fitch said the rating reflects Hubbell's solid operating performance over the long term, balanced against recently softer results and more aggressive financial policies. Hubbell's sales grew 0.9% in 2015 following 5.5% growth in 2014, driven by 4.3% growth in the power segment, supported by acquisitions, offsetting a 0.4% decline in the electrical segment.

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