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S&P rates Amphenol notes BBB+
S&P said it assigned a BBB+ rating to Amphenol Corp.’s senior unsecured notes due in 2030.
The notes will rank equally with Amphenol’s other unsecured unsubordinated debt.
“Amphenol has issued issue at least $900 million of notes to help fund the redemption of its 2.2% senior notes due in April 2020 and 3.125% senior notes due in September 2021. We expect the amount above this to primarily be used to repay borrowings under Amphenol’s U.S. dollar- commercial paper program ($1.292 billion principal outstanding as of June 30, 2019), pay fees and expenses associated with the transaction, and to a lesser extent for general corporate purposes,” S&P said in a press release.
Amphenol’s other ratings are unchanged.
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