S&P: Sherwin-Williams notes A

Standard & Poor's said it affirmed all of its ratings, including the A corporate credit rating, on Sherwin-Williams Co. and removed them from CreditWatch, where they were placed with negative implications on Nov. 13. The outlook is negative.

The agency said it also assigned an A issue rating to the company's proposed $750 million notes due 2017 and 2042.

"The affirmations and CreditWatch removals followed the completion of our review of Sherwin-Williams' business and financial risk profile, pro forma for the acquisition of Comex, which it recently agreed to acquire for $2.34 billion," said credit analyst Liley Mehta in a news release.

"The affirmation reflects our view that Sherwin-Williams should be able to restore its credit metrics to appropriate levels by 2014."

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