S&P rates Cisco notes A+

Standard & Poor's said it assigned an A+ rating to the $2 billion 4.95% notes due 2019 and $2 billion 5.9% notes due 2039 to be issued by Cisco Systems Inc. and affirmed the company's A+ corporate credit and unsecured debt ratings

The outlook is stable.

Proceeds will be used to repay $500 million of floating-rate notes maturing in 2009 and for general corporate purposes.

The agency said Cisco's superior liquidity and a conservative balance sheet support the rating despite a weak second fiscal quarter and S&P's expectation that the company will face significant operating challenges, at least through most of 2009.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.