Moody's gives Baa1 to Raytheon notes

Moody's Investors Service said it assigned Baa1 ratings to Raytheon Technologies Corp.’s (RTX) planned senior unsecured notes.

“The issuance of the new notes does not affect Moody's Baa1 senior unsecured rating nor the stable outlook assigned to RTX,” the agency said in a statement.

The company will use the proceeds for general corporate purposes, which include the repayment at maturity of the company's 3.65% notes due Aug. 16 with $171 million outstanding and its 3.7% notes due Dec. 15, with $400 million outstanding. The remainder will be used for general corporate purposes which may include the repayment of commercial paper and share repurchases.

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