United Technologies (UTX) Tops Q3 EPS by 9c

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Moody's Rates United Technologies (UTX) Latest Debt Offering at 'A3'; Outlook is Stable

October 27, 2016 11:57 AM EDT

Moody's Investors Service assigned A3 ratings to the proposed new debt issuance by United Technologies Corporation (NYSE: UTX), including senior unsecured notes aggregating an expected $4 billion in face value at varying maturities. All existing ratings for the company remain unchanged, including the P-2 commercial paper rating, as outlined below. The rating outlook is stable.

"Although net proceeds will partially support the refinancing of near-to-medium term debt maturities, a portion will be used to term out commecial paper borrowings related to already completed share buybacks," according to Russell Solomon, Senior Vice President and Moody's lead analyst... More