NEW YORK (S&P Global Ratings) Nov. 13, 2019--S&P Global Ratings today assigned its 'BBB' issue-level rating to L3Harris Technologies Inc.'s proposed $400 million unsecured notes due 2029. The company plans to use the proceeds to repay $400 million of 2.7% notes due April 2020 issued by L3Harris. We do not believe the transaction will significantly alter L3Harris' credit metrics as the total amount of debt will not change; therefore, all of our other ratings on the company are unchanged. Capital structure Pro forma for the proposed transaction, the company's capital structure will consist of $6.6 billion of unsecured debt issued by L3Harris and $329 million of unsecured debt at its subsidiary, L3 Technologies Inc. Analytical conclusions We rate all of
