On Nov. 17, 2003, Standard&Poor's Ratings Services assigned its 'BB+' corporate credit rating to Duluth, Ga.-based Roper Industries Inc. In addition, Standard&Poor's assigned its 'BB+' senior secured bank loan rating to the company's proposed $625 million senior secured credit facilities, its preliminary 'BB-' rating to Roper's shelf filing of $450 million in debt securities (under Rule 415), and its 'BB-' rating to Roper's $150 million proceeds cash-to-zero convertible bond (CATZ), which will be drawn under the shelf. Proceeds from the credit facilities and convertible bond, together with a planned $200 million common stock issue, will be used to finance the acquisition of unrated Neptune Technology Group Holdings Inc., a leading North American manufacturer of water meters
