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

[Anonymous]

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.

[Author]

May 21, 2008 at 2:44 PM