- Language: English
- 1539 Pages
- Published: March 2012
- Region: Global
Xylem Inc. Assigned 'BBB' Rating Following Spin-Off From ITT Corp.; The Outlook Is Stable Sep 11
- Published: September 2011
- Standard & Poors
U.S.-based ITT Corp. plans to spin off its water-based businesses, now known as Xylem Inc. The new company has announced its plan to issue $1.2 billion in senior notes to fund a dividend to ITT as part of the spin-off. We are assigning our 'BBB' corporate credit rating to Xylem. We are also assigning our 'BBB' issue-level rating to the company's proposed $1.2 billion senior unsecured notes. The stable outlook reflects our expectation that the company will maintain leverage metrics appropriate for the rating. NEW YORK (Standard & Poor's) Sept. 14, 2011--Standard & Poor's Ratings Services said today that it has assigned its 'BBB' corporate credit rating to White Plains, N.Y.-based Xylem Inc. At the same time we assigned our...
Companies mentioned in this report are: Xylem,ITT Corp.
Action: New Rating
Action: Outlook: Stable
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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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