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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.
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