S&P provides BBB to Cabot notes

S&P said it assigned its BBB issue-level rating to Cabot Corp.'s proposed $250 million senior unsecured notes.

The company plans to use the proceeds, along with cash on hand, to redeem its $300 million 5% senior notes due Oct. 1, 2016. The agency will discontinue the ratings on the notes due 2016 upon repayment.

Cabot’s existing ratings, including the BBB long-term and A-2 short-term corporate credit ratings, are unchanged.

The outlook remains stable.

S&P said the ratings reflect its view that Cabot has a satisfactory business risk profile and an intermediate financial risk profile.

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