NEW YORK (S&P Global Ratings) Nov. 28, 2016--S&P Global Ratings today assigned its 'BBB+' issue-level rating to Cork, Ireland-based Johnson Controls International PLC's proposed senior unsecured notes, which will be issued with varying maturities. Johnson Controls expects to use the proceeds from these notes to exchange all of the validly tendered and accepted notes issued by its subsidiaries Johnson Controls Inc. (JCI Inc.) and Tyco International Finance S.A. (TIFSA). The company is offering to exchange its existing series of notes for new notes issued by Johnson Controls International PLC that will have essentially the same terms and identical interest rates, interest payment dates, and maturity dates as the corresponding series of subsidiary notes. The exchange offer is set to expire
