Moody's assigns Johnson Controls notes Baa2

Moody's Investors Service said it assigned Baa2 ratings to Johnson Controls International plc's new euro-denominated senior unsecured notes due 2027 and 2032. The issuances do not affect other ratings of Johnson Controls, including the Baa2 senior unsecured rating, Moody’s said.

“Johnson Controls' Baa2 senior unsecured debt ratings reflect the company's significant scale with a diverse customer base and end markets in HVAC, fire and security products,” Moody’s said in a press release.

Proceeds will be used general corporate purposes, including the repayment or redemption of near-term indebtedness, with €750 million of notes maturing in December.

The outlook is stable.

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