S&P assigns Lockheed Martin notes A-

Standard & Poor's said it assigned its A- rating to Lockheed Martin Corp.'s proposed $500 million senior unsecured notes due 2013.

The notes are offered under the recently filed unlimited amount Rule 415 shelf for senior unsecured debt securities rated preliminary A-, the agency said, noting that proceeds of the notes are intended for general corporate purposes, including the repayment of debt.

According to S&P, Lockheed Martin (A-/stable/A-2) has impressive competitive positions in military aircraft, defense electronics and military and commercial space.

"The ratings on Lockheed Martin are supported by its position as the largest defense contractor worldwide [estimated 2008 revenues of $42 billion], healthy contractual backlog [$77 billion on Dec. 31, 2007] and an overall solid financial profile," said S&P credit analyst Roman Szuper.

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