Moody’s rates Brunswick notes Baa2

Moody's Ratings said it assigned a Baa2 rating to Brunswick Corp.'s planned new five-year senior unsecured notes.

All other ratings for the company, including the Baa2 senior unsecured notes and Prime-2 commercial paper ratings, remain unchanged.

The proceeds will be used for general corporate purposes, including to refinance debt. Brunswick's near-term maturities include a $450 million note due in August.

“The transaction is credit positive because it will bolster liquidity by extending maturities of current debt while the increase in cash interest expense is moderate in relation to the company's free cash flow,” Moody’s said in a press release.

The outlook is stable.

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