Fitch rates Meccanica bond BBB+

Fitch Ratings said it assigned Meccanica Holdings USA Inc.'s $500 million 6 ¼% 30-year bond expected senior unsecured ratings of BBB+. The ratings are in line with parent company Finmeccanica's BBB+ long-term issuer default rating, which is affirmed along with its senior unsecured rating at BBB+ and short-term issuer default rating at F2. The ratings are contingent upon the receipt of final documents.

The outlook is stable.

The net proceeds from the bonds will be used to refinance existing debt, the agency said. The guarantee from Finmeccanica will be a direct, general and unconditional obligation of the company and will at all times rank at least equally with all its other present and future unsecured and unsubordinated obligations, Fitch said.

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