S&P rates Cabot notes BBB

S&P said it rated Cabot Corp.’s planned senior unsecured notes BBB.

Cabot’s BBB issuer and senior unsecured ratings are unchanged, the agency said.

The company will use the proceeds to redeem its $350 million of principal amount of 3.7% senior notes due July 15. Cabot intends to use any remaining proceeds for working capital and general corporate purposes, including the potential repayment of commercial paper and borrowings under its revolving credit facilities.

The outlook is stable.

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