Fitch assigns Kennametal notes BBB

Fitch Ratings said it assigned Kennametal Inc.’s planned $300 million issue of 10-year senior unsecured notes a BBB rating.

Fitch rates Kennametal’s long-term issuer default rating, bank credit facility and senior unsecured notes BBB.

Proceeds will be used to repay $300 million of notes due February 2022.

The outlook is negative.

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