Honeywell International Inc.'s Proposed Euro- And Dollar-Denominated Senior Notes Rated 'A'

NEW YORK (S&P Global Ratings) May 12, 2023--S&P Global Ratings today assigned its 'A' issue-level rating to Charlotte, N.C.-based Honeywell International Inc.'s(A/Stable/A-1) proposed euro- and dollar-denominated senior notes. The company intends to use the proceeds from this proposed offering to fund the repayment of its commercial paper and will use any remaining proceeds for general corporate purposes. All of our existing ratings on Honeywell are unchanged. Our 'A' long-term issuer credit rating on the company reflects its broad operational scale, strong market positions in its core end markets, and healthy backlog, which will likely support good organic growth relative to its peers, particularly in its long-cycle products. Furthermore, our rating reflects Honeywell's rigorous operational processes, which support continuous improvement and

...May 12, 2023 NEW YORK (S&P Global Ratings) May 12, 2023--S&P Global Ratings today assigned its 'A' issue-level rating to Charlotte, N.C.-based Honeywell International Inc.'s(A/Stable/A-1) proposed euro- and dollar-denominated senior notes. The company intends to use the proceeds from this proposed offering to fund the repayment of its commercial paper and will use any remaining proceeds for general corporate purposes. All of our existing ratings on Honeywell are unchanged. Our 'A' long-term issuer credit rating on the company reflects its broad operational scale, strong market positions in its core end markets, and healthy backlog, which will likely support good organic growth relative to its peers, particularly in its long-cycle products. Furthermore, our rating reflects Honeywell's rigorous operational processes, which support continuous improvement and high profit margins, and its robust cash flow generation. We estimate its S&P Global Ratings-adjusted debt to EBITDA will be about 2.0x...

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