- Language: English
- 109 Pages
- Published: November 2011
- Region: Slovakia
Illinois Tool Works Inc.'s Proposed Unsecured Notes Assigned 'A+' Rating Aug 11
- Published: August 2011
- Standard & Poors
NEW YORK (Standard & Poor's) Aug.24, 2011--Standard & Poor's Ratings Services said today that it has assigned its 'A+' issue-level rating to Illinois Tool Works Inc.'s (ITW, A+/Stable/A-1) proposed $1.0 billion senior unsecured notes offering with 10 and 30 years maturities. ITW expects to use the proceeds to repay a portion of outstanding commercial paper borrowings. The 'A+' ratings on U.S.-based industrial manufacturer ITW reflect the company's strong business profile as a globally diversified industrial manufacturer, its track record of solid free cash flow generation, and its modest financial profile. The company's end-market cyclicality and its long-standing acquisitiveness partially temper these factors. The outlook on ITW's corporate credit rating is stable. At the end of the second quarter, ITW's credit...
Companies mentioned in this report are: Illinois Tool Works Inc.
Action: New Rating
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Research type: News
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Illinois Tool Works Inc.
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