Fitch affirms Newell

Fitch Ratings said it affirmed Newell Rubbermaid, Inc.'s ratings as follows: long-term issuer default rating at BBB; short-term issuer default rating at F2; commercial paper at F2; $800 million revolving credit facility at BBB; senior unsecured notes and 5.5% convertible at BBB; and 5.25% convertible quarterly income preferred securities at BB+.

The outlook is stable.

The ratings reflect Newells' well-known brands, considerable liquidity and its focus on differentiated global products with prospects for higher growth and margins, the agency said.

The ratings also encompass the cyclical nature of a significant portion of the company's global business units as well as some commodity exposure, albeit at much lower levels than several years ago, Fitch noted.

© 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.