On March 9, 2006, Standard&Poor's Ratings Services assigned its 'A' rating to Honeywell International Inc.'s proposed $1 billion of notes to be issued in three series (a shelf drawdown): floating-rate senior notes due 2009, senior notes due 2016, and senior notes due 2036. The amounts of the individual series have not yet been determined. The proceeds will be used to refinance maturing debt and commercial paper. At the same time, Standard&Poor's affirmed its other ratings, including the 'A/A-1' corporate credit rating, on the company. The outlook is stable. The ratings on Honeywell reflect its substantial operating diversity, solid competitive positions, and strong overall financial profile. The ratings also acknowledge the firm's cyclical and competitive markets, and
