BOISE (S&P Global Ratings) June 4, 2024--S&P Global Ratings today said that Carrier Global Corp.'s (BBB/Positive/A-2) completed sale of its Global Access Solutions business to Honeywell for $4 billion of net proceeds supports our forecast that the company will improve its S&P Global Ratings-adjusted leverage below 3x by the end of this year, which includes a half year of EBITDA contributions from its Global Access Solutions, Industrial Fire, and Commercial Refrigeration businesses. The company has announced it used proceeds from the divestiture to repay its term loan facilities (roughly $2.55 billion combined) as well as to commence the process to redeem its $1 billion 5.8% notes due November 2025. While we believe Carrier is committed to using about $5.5 billion
