S&P rates Moody's notes BBB+

Standard & Poor's said it assigned Moody's Corp.'s proposed issuance of $500 million unsecured notes due 2020 a rating of BBB+.

Proceeds from the offering will reportedly be used for general corporate purposes, including debt repayment, working capital, acquisitions and share repurchases, the agency said.

The long-term corporate credit rating is BBB+ and the outlook is stable.

The ratings incorporate a view of Moody's business risk following the passage of financial reform legislation by the U.S. Congress, S&P said.

It also considers an expectation that the financial policy will remain relatively conservative, accommodating leverage within 2.5x, the agency said.

© 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.