Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Marsh & McLennan Cos., Inc. > News item |
S&P rates Marsh & McLennan notes BBB-
Standard & Poor's said it assigned a BBB- rating on Marsh & McLennan Cos.'s proposed $500 million of 4.8% senior notes due 2021.
The agency said it expects that the company's financial leverage will decrease slightly following the issuance of the proposed senior notes.
This is based on an expectation that the company will complete the senior note issuance in conjunction with a $600 million tender offer of a portion of its outstanding 5.375% notes due 2014 and 5.75% notes due 2015, S&P said.
The proposed transaction should also improve the company's financial leverage on a qualitative basis by extending part of its 2014 and 2015 maturities by another six to seven years while taking advantage of the currently low interest rates, the agency said.
S&P said it believes the proposed tender offer and senior note issuance does not pose any material financial risk because the tender offer is contingent on successful refinancing.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.