Moody's rates Cabot notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to Cabot Corp.'s new $300 million of 5.5-year notes and $300 million of 10-year notes.

Proceeds from this debt, along with $300 in revolver borrowings and $200 million in balance sheet cash, are expected to be used to fund the acquisition of Norit NV.

Proceeds from the notes will be held on the balance sheet until the closing, which is expected to occur in August.

The outlook is stable.

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