S&P rates Fortune notes BBB

S&P said it assigned a BBB issue-level rating to Fortune Brands Innovations Inc.'s 10-year senior unsecured notes due June 1, 2033.

Fortune’s BBB ratings are unchanged by the offering.

The company expects to use the proceeds for general corporate purposes, including financing its debt and funding its recent acquisitions. “We expect the transaction will be leverage neutral,” S&P said in a press release.

The outlook is stable.

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