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S&P rates Honeywell notes A
Standard & Poor's said it assigned an A rating to Honeywell International Inc.'s proposed 10-year and 30-year senior unsecured note offering.
The proceeds will be used to repurchase up to $400 million of senior notes due 2012, to repay commercial paper and for general corporate purposes, S&P said.
The new notes will be issued under Honeywell's existing shelf registrations of debt securities.
The ratings reflect the company's strong business risk profile and modest financial risk profile, with credit measures that have improved significantly in the past year, the agency said.
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