S&P rates Roper notes BBB

Standard & Poor's said it today assigned its BBB issue-level rating to Roper Industries Inc.'s $800 million senior unsecured notes due 2018, the same as its corporate credit rating.

The company will use the proceeds to repay outstanding debt under its $1.5 billion unsecured revolving credit facility due 2017, which the company had drawn to fund the acquisition of MHA Inc. in May.

The proposed new notes contain a change-of-control provision.

S&P said the ratings on Roper reflect its view of the company's "satisfactory" business risk profile and "intermediate" financial risk profile. The company is acquisitive, which exposes it to credit risk, the agency added.

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