Fitch assigns A to Dover notes

Fitch Ratings said it assigned an A rating to Dover Corp.’s $400 million 3.15% senior unsecured notes due 2025.

The actions affect roughly $2.8 billion of total debt, pro forma for the issuance and repayment of $300 million of 4.875% senior notes on Oct. 15, 2015 with available cash.

Fitch said the ratings and outlook reflect its expectations for solid operating results, despite near-term headwinds from weak energy markets and currency translation. Profitability should be flat from ongoing efficiency initiatives and an improving sales mix, even as the agency expects organic revenues will decline by double digits in 2015.

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