...March 3, 2020 NEW YORK (S&P Global Ratings) Mar. 3, 2020--S&P Global Ratings today assigned its 'A' issue-level rating to Charlotte, N.C.-based Honeywell International Inc.'s proposed euro-denominated senior unsecured notes. We expect the company to issue the notes in two tranches, with a 500 million tranche due 2024 and a 500 million tranche due in 2032, respectively. Honeywell will likely use the proceeds from this offering to replenish its cash balance and for other general corporate purposes. The company recently used cash on hand to repay its 1 billion 0.65% senior notes due February 2020. All of our other ratings on the company remain unchanged. Our 'A' long-term issuer credit rating on Honeywell reflects the company's broad operational scale and strong market positions in a set of core end markets; its healthy backlog, which should provide good organic growth relative to that of its peers, particularly in long-cycle products; its rigorous operational processes, which yield continuous...
