Fitch to rate Dover notes A

Fitch Ratings said it expects to assign Dover Corp.'s planned issuance of 10- and 30-year fixed-rate senior notes an A rating.

The outlook is stable.

Proceeds will be used to repay commercial paper, which totaled $747 million at Feb. 15, and for general corporate purposes.

Dover's issuer default rating, senior credit facilities and senior long-term debt are rated at A and its short-term issuer default rating and commercial paper ratings are at F1, Fitch said.

Dover's ratings are supported by a diverse business portfolio, competitive positions at most businesses and solid free cash flow, the agency said.

The 2010 year-end debt-to-EBITDA ratio was 1.4 times.

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