Fitch rates Aon notes BBB+

Fitch Ratings said it assigned a senior unsecured long-term debt rating of BBB+ to Aon Corp.'s new issuance of $300 million senior notes.

The notes are fully and unconditionally guaranteed by the ultimate parent, Aon plc, and thus the rating is tied to Fitch's existing BBB+ Aon's long-term issuer default rating, the agency noted.

The net proceeds will be used primarily to refinance outstanding short-term commercial paper and for general corporate purposes.

Fitch said it views the new debt favorably overall as the new senior debt will likely be issued at an attractive fixed rate given current market conditions and will have a long-dated maturity, resulting in an improved liquidity profile.

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