S&P rates Danaher notes A

Standard & Poor’s said it assigned an A rating to Danaher Corp.’s proposed dollar-denominated senior notes.

The proceeds will be used to repay a portion of commercial-paper borrowings, which it used to fund its acquisition of Pall Corp.

The company’s A long-term and A-1 short-term corporate credit ratings are unchanged, along with its stable outlook and the ratings on its existing debt.

Danaher is expected to maintain its broad end-market diversity and global presence in both mature and higher-growth regions, S&P said, and should benefit from an increased proportion of recurring revenues.

However, the planned separation of certain industrial businesses moderately lowers the company’s diversification across business lines.

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