...+ Ireland-based security products producer Allegion PLC plans to issue $300 million of senior unsecured notes to reduce borrowings under its revolving credit facility previously used to finance three recently announced acquisitions. + As a result of the partially debt-financed acquisitions, pro forma debt leverage will increase to about 3.5x. + We are assigning our '##+' issue-level rating to Allegion's new notes. Our existing ratings, including our '##+' corporate credit rating and our '###' senior secured term loan and '##+' senior unsecured note ratings are unchanged. + The outlook is positive, reflecting our view that Allegion will reduce leverage to about 3.2x by year-end 2015 (after taking into account surplus cash balances as well as operating leases and pension liabilities) with further reductions to 3x or less in 2016. NEW YORK (Standard & Poor's) Sept. 11, 2015--Standard & Poor's Ratings Services said today it assigned it '##+' issue-level rating to Allegion PLC's proposed senior...
