S&P lowered its counterparty credit rating on Marsh & McLennan Cos. (MMC) to “A+” from “AA-” and removed it from CreditWatch. The outlook is stable.
In another move, S&P also assigned its “A+” senior unsecured debt rating to MMC’s proposed issue of $800 million (with the possibility of modest upsizing) senior debentures of 10-year fixed and three-year floating-rate securities, which will be drawn down from the company’s existing shelf registration statement.
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