S&P gives Acuity Brands notes BBB-

Standard & Poor's said it assigned its BBB- issue-level rating to Acuity Brands Lighting Inc.'s proposed $400 million senior unsecured notes due 2019.

S&P expects Acuity to use the proceeds from the new notes to repay the outstanding $200 million 8.375% notes due 2010 that are validly tendered.

Acuity will also use proceeds of the notes to repay the $25 million outstanding on an unsecured promissory note it issued along with its acquisition of Sensor Switch Inc. and for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.