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Moody's rates BAE notes Baa2
Moody's Investors Service said it assigned Baa2 ratings to the £400 million issuance of new 4.125% senior unsecured notes due 2022 issued by BAE Systems plc.
The outlook is stable.
The company intends to use the net proceeds from the offerings for general corporate purposes, including to pre-fund 2014 debt maturities.
BAE's Baa2 rating broadly reflects the company's large size and scale as the UK's leading defense contractor and a prime defense supplier to the U.S. and other global markets, the agency said.
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