S&P gives A- to Aon notes

Standard & Poor’s said it assigned its A- senior unsecured debt rating to Aon plc’s planned issuance of $400 million senior notes due 2021.

Aon will use the proceeds for general corporate purposes, including paying down a portion of its outstanding $810 million commercial paper balance as of Sept 30, 2015.

“We do not expect financial leverage, which was 2.6x for the 12 months ended Sept. 30, 2015, to change materially following the transaction. The company’s credit-protection measures remain within our expectation for the current rating,” S&P said in a news release.

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