Moody’s rates S&P notes A3

Moody’s Investors Service said it assigned an A3 rating to S&P Global Inc.’s senior unsecured notes due 2029 and 2049.

The proceeds will be used to call any or all the $700 million, 3.30% senior unsecured notes due August 2020 and any and all the tendered portion of the $400 million, 6 11/20 % senior unsecured notes due November 2037.

All S&P’s other ratings are unaffected by the offering, Moody’s said.

“Moody’s views the transaction as credit neutral. The proceeds from the note offering will be largely used to repay debt, with remaining cash, net of transaction fees and expenses, expected to be held in cash. Any incremental leverage (net of repayment) will be balanced with additional liquidity, lower interest expense, and a more favorable maturity profile,” Moody’s said in a press release.

The outlook is stable.

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