On Sept. 2, 2005, Standard&Poor's Ratings Services assigned its 'A-1' rating to Morristown, N.J.-based Honeywell International Inc.'s US$500 million Canadian commercial paper program. At the same time, Standard&Poor's affirmed its ratings, including its 'A/A-1' corporate credit ratings, on the company. The outlook is stable. About $5.7 billion of debt is outstanding. The issuers of notes under the program are Honeywell ASCa Inc., Honeywell Limited/Honeywell Limitée, and Honeywell Aérospatiale Inc. Borrowings under the program will be guaranteed by the parent, Honeywell International, with proceeds used for general corporate purposes. Standby support for commercial paper outstandings is provided by US$2.3 billion of revolving credit facilities and a C$240 million 364-day credit agreement. The ratings on Honeywell International reflect
