S&P rates BAE Systems notes BBB

S&P said it assigned its BBB long-term issue rating to the proposed benchmark senior unsecured notes to be sold by BAE Systems plc.

S&P said it expects BAE to use the proceeds to fund its acquisition of Collins Aerospace’s military global positioning systems business and Raytheon’s airborne tactical radios business.

“We view this proposed issuance as being in line with BAE’s previously announced funding strategy,” S&P said in a press release.

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