Johnson Controls International PLC's Proposed Senior Unsecured Notes Rated 'BBB+'

SAN FRANCISCO (S&P Global Ratings) Aug. 25, 2022--S&P Global Ratings today assigned its 'BBB+' issue-level rating to Johnson Controls International PLC's (JCI's) proposed €600 million senior unsecured notes due 2028. The notes will be co-issued by JCI's wholly owned subsidiary, Tyco Fire&Security Finance S.C.A. JCI intends to use proceeds from the notes to refinance outstanding commercial paper borrowings. Therefore, we view the proposed transaction as largely credit neutral. JCI is a global diversified technology and multi-industrial company involved in the engineering, manufacturing, and commissioning of building products and systems. This includes residential and commercial heating, ventilation, air conditioning (HVAC) equipment; industrial refrigeration; controls; security systems; and fire-detection and fire-suppression systems. JCI also offers technical services such as maintenance,

...August 25, 2022 SAN FRANCISCO (S&P Global Ratings) Aug. 25, 2022--S&P Global Ratings today assigned its '###+' issue-level rating to Johnson Controls International PLC's (JCI's) proposed 600 million senior unsecured notes due 2028. The notes will be co-issued by JCI's wholly owned subsidiary, Tyco Fire & Security Finance S.C.A. JCI intends to use proceeds from the notes to refinance outstanding commercial paper borrowings. Therefore, we view the proposed transaction as largely credit neutral. JCI is a global diversified technology and multi-industrial company involved in the engineering, manufacturing, and commissioning of building products and systems. This includes residential and commercial heating, ventilation, air conditioning (HVAC) equipment; industrial refrigeration; controls; security systems; and fire-detection and fire-suppression systems. JCI also offers technical services such as maintenance, management, repair, retrofit, and replacement of equipment; energy management consulting;...

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