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Cameron International Corp.'s Proposed $500 Million Senior Unsecured Notes Rated 'BBB+' May 11 Product Image

Cameron International Corp.'s Proposed $500 Million Senior Unsecured Notes Rated 'BBB+' May 11

  • ID: 1804509
  • May 2011
  • Region: Global
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) May 25, 2011--Standard & Poor's Ratings Services said today it assigned its 'BBB+' rating to Cameron International Corp.'s proposed $500 million senior unsecured notes, which consist of two tranches due in 2021 and 2041. "Our analysis incorporates Cameron's plan to use part of the proceeds from the proposed notes offering to fund the company's tender offer for its 2.5% convertible senior notes due 2026," said Standard & Poor's credit analyst Patrick Lee. Houston-based Cameron International Corp. is a leading provider of flow and pressure control equipment to the worldwide oil, gas, and process industries. The 'BBB+' rating on Cameron reflects the company's solid competitive position as a large manufacturer and supplier of pressure control equipment...

Companies mentioned in this report are:
- Cameron International Corp.

Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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- Cameron International Corp.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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