OREANDA-NEWS. S&P Global Ratings today assigned its 'BBB' issue-level rating to U. S.-based Cabot Corp.'s proposed $250 million senior unsecured notes.

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.