Masco Corp.'s Proposed Senior Unsecured Notes Rated 'BBB-' Mar 12
Standard & Poors, March 2012
Abstract
NEW YORK (Standard & Poor's) March 5, 2012--Standard & Poor's Ratings Services today assigned its 'BBB-' rating to Taylor, Michigan-based Masco Corp.'s (BBB-/Stable/--) proposed senior unsecured notes based on proposed terms and conditions. The notes are being offered under the company's shelf registration filed Feb. 24, 2010. We expect the company to use proceeds from the notes for general corporate purposes including the partial repayment of the company's $791 million (original amount $850 million) 5.875% senior unsecured notes due on July 15, 2012. Masco Corp. had adjusted debt of $4.7 billion on Dec. 31, 2011. The ratings on Masco reflect the company's "satisfactory" business risk (as our criteria define the term), which incorporates its leading market positions for a broad...
Companies mentioned in this report are: Masco 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.
Masco Corp.
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