...March 2, 2021 NEW YORK (S&P Global Ratings) March 2, 2021--S&P Global Ratings today assigned its 'A-' rating to Eaton Capital Unlimited Co.'s proposed euro-denominated senior unsecured notes. Eaton Capital Unlimited Co. is a subsidiary of Dublin-based Eaton Corp. PLC, a diversified power management company. We expect the final size of the notes offering to be approximately 1.5 billion (approximately $1.8 billion), issued in two tranches due in 2026 and 2030. The notes will rank equally with all of the issuer's existing and future unsecured unsubordinated debt. Eaton intends to use the proceeds for general corporate purposes, including the repayment of bonds and commercial paper. We expect most of these proceeds will be used to refinance upcoming maturities and the remainder to fund the announced acquisitions. Eaton is on track to receive about $2.9 billion in cash proceeds from the sale of its hydraulics business, which it will also use to fund the proposed acquisitions. We expect the net...
