Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Honeywell International Inc. > News item |
Fitch to rate Honeywell notes A
Fitch Ratings said it expects to assign a rating of A to Honeywell International Inc.'s planned issuance of about $1 billion of senior unsecured notes, including a mix of two-year floating-rate notes and 10-year fixed-rate notes.
Proceeds will be available for general corporate purposes and will support Honeywell's liquidity ahead of the scheduled maturity of $600 million 3.875% notes due February 2014.
The outlook is stable.
Fitch said the ratings incorporate Honeywell's solid operating performance, leading market positions, diverse business portfolio, high liquidity, and consistent cash flow. Debt-to-EBITDA was 1.3x at Sept. 30. Fitch estimates free cash flow after dividends in 2013 could increase to around $2 billion, compared to $1.4 billion in 2012.
© 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.