Fitch to give Raytheon notes A-

Fitch Ratings said it expects to assign A- ratings to Raytheon Co.'s new senior notes totaling $2 billion due 2015, 2020 and 2040.

Proceeds will be used to fund the redemption of the company's 5.5% notes due 2012 and 5.375% notes due 2013, which were called in late September, and general corporate purposes, which could include share repurchases and discretionary pension contributions.

Fitch said that pro forma for the debt issuances and debt redemptions, the ratings will cover about $3.6 billion of debt, an increase of roughly 50% from the $2.3 billion of debt outstanding at the end of June.

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