S&P: Cabot Corp.'s Proposed $250 Million Senior Unsecured Notes Rated 'BBB'
The company plans to use the proceeds, along with cash on hand, to redeem its $300 million 5% senior notes due Oct. 1, 2016. We will discontinue the ratings on the notes due 2016 upon repayment.
The existing ratings, including the 'BBB' long-term and 'A-2' short-term corporate credit ratings on Cabot Corp., are unchanged. The outlook remains stable.
The ratings on Cabot reflect our view that the company has a satisfactory business risk profile and an intermediate financial risk profile. For the complete corporate credit rating analysis, see our summary analysis on Cabot Corp. published July 27, 2016, on RatingsDirect.