Moody’s rates RTX notes Baa1

Moody's Investors Service said it assigned Baa1 ratings to RTX Corp.’s new senior unsecured notes.

The company will use the proceeds to retire a portion of the $10 billion bridge loan that it arranged on Oct. 26 to fund the $10 billion accelerated share repurchase program the company completed on that date. The balance of the retirement of the bridge loan will be funded from the proceeds of new term loans RTX is contemporaneously arranging to close sometime this week. Moody’s will not be rating the loans.

The new notes do not affect the Baa1 senior unsecured rating, nor the company’s negative outlook, the agency said.

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