S&P gives Raytheon notes A-

Standard & Poor's said it assigned its A- rating to Raytheon Co.'s proposed issuance of unsecured notes due 2015, 2020 and 2040.

According to the agency, the size of the offering was not announced, but the prospectus supplement stated that the proceeds will be used to redeem the outstanding $333 million of 5.5% notes due 2012 and $345 million of 5.375% notes due 2013, as well as for other general corporate purposes including share repurchases, discretionary pension contributions and acquisitions.

S&P added that the ratings on Raytheon reflect its position as a leading U.S. defense contractor with strengths in defense electronics, strong liquidity and overall good credit protection measures.

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