Fitch gives Thomas & Betts notes BBB

Fitch Ratings said it expects to assign a rating of BBB to Thomas & Betts Corp.'s planned issuance of $250 million of 12-year senior unsecured notes.

Proceeds will be available for general corporate purposes, including debt repayment, the agency said.

The outlook is stable.

According to Fitch, Thomas & Betts' debt balances will increase modestly after adjusting for proceeds used to refinance existing debt.

Fitch said it estimates pro forma debt/EBITDA will be roughly 2.25 times or slightly higher after the new debt issuance.

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