LEXMARK:$650Mln SENIOR UNSECURED NOTES RATED 'BBB'

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LEXMARK:$650Mln SENIOR UNSECURED NOTES RATED 'BBB'

 user 2008-05-21 at 2:44:51 pm Views: 81
  • #20275

    http://www.forbes.com/markets/feeds/afx/2008/05/19/afx5025459.html
    Lexmark International’s $650 mln senior unsecured notes rated ‘BBB’ – S&P
    MUMBAI
    - Standard & Poor’s Ratings Services said it has assigned its ‘BBB’
    rating on U.S.-based printer maker Lexmark International Inc.’s $650
    million senior unsecured notes to be issued in two tranches due 2013
    and 2018.The company will use issue proceeds for general corporate
    purposes, including share repurchases.S&P also affirmed Lexmark’s
    ‘BBB’ corporate credit rating. The outlook is negative.The rating
    reflects the company’s good financial profile with moderate leverage,
    and significant base of highly profitable supplies revenues, S&P
    said. These factors are offset partially by a relatively narrow product
    base, a highly competitive market in which significantly larger and
    more diversified competitors dominate, and diminished earnings
    predictability, S&P added.