NEW YORK (S&P Global Ratings) Nov. 2, 2026--S&P Global Ratings today assigned its ‘BBB’ issue-level rating to Otis Worldwide Corp.’s (BBB/Stable/A-2) proposed senior unsecured notes. The company intends to use the proceeds to repay outstanding amounts (about $500 million) under its 2.293% notes due April 2027, with the remainder used to repay commercial paper borrowings, and fund other general corporate purposes. We rate the notes the same as our issuer credit rating and view the transaction as leverage-neutral. The ‘BBB’ issuer credit rating reflects Otis’ relatively stable end-market demand, solid market position, engineering expertise, and well-balanced geographic mix. Criteria Corporates General: Sector-Specific Corporate Methodology , July 7, 2025 Criteria Corporates General: Corporate Methodology , Jan. 7, 2024 Criteria
