NEW YORK (Standard&Poor's) Oct. 26, 2001-- Standard&Poor's today assigned its single-'A' rating to Honeywell International Inc.'s $500 million 5.125% notes due Nov. 1, 2006, and $500 million 6.125% notes due Nov. 1, 2011; both issues are shelf drawdowns. At the same time, Standard&Poor's affirmed its outstanding ratings on the company (see list below). The outlook remains negative. Note proceeds will be used primarily to reduce commercial paper. Honeywell's recently released financial results for the third quarter ended Sept. 30, 2001, reported subpar operating performance, due mainly to a weaker economy. Furthermore, in the wake of the Sept. 11 terrorist attacks against the U.S., the intermediate-term business prospects for commercial aerospace (the firm's largest market)
