NEW YORK (S&P Global Ratings) Nov. 2, 2026--S&P Global Ratings today assigned its'BBB+'issue-level rating to Carrier Global Corp.'s proposed senior unsecured USD notes. The company intends to use the proceeds from these notes to repay outstanding debt, including its $900 million notes due February 2027, and will apply any remaining net proceeds toward general corporate and working capital purposes. We view the transaction as leverage neutral because it will not affect Carrier’s S&P Global Ratings-adjusted leverage. All our existing ratings on the company, including the'BBB+'issuer credit rating, are unchanged. The rating reflects our favorable view of Carrier’s business, supported by its leading global market shares in the heating, ventilation, air conditioning (HVAC), and refrigeration verticals and
