Moody's rates ABB notes A2

Moody's Investors Service said it assigned definitive A2 ratings to the $600 million of 2.5% notes due 2016 and $650 million of 4% notes due 2021 issued by ABB Treasury Center (USA), Inc.

The new notes benefit from a keepwell agreement between the issuer and ABB Ltd. ABB's other ratings, including the A2 for its senior debt, its Prime-1 short-term issuer rating and the Prime-2 short-term ratings of the group's subsidiaries remain unchanged. The outlook is stable.

ABB's A2 ratings reflect its strong financial and liquidity profile, its relatively resilient performance throughout the recent economic downturn and the anticipation that the group will, even in the likely event of further cash- or debt-financed external growth activities, continue to exhibit credit metrics that are in line with the A2 rating, the agency said.

Moody's ratings for ABB also take into account the group's strong business profile and the diversified nature of its operations, the agency added.

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