Carrier Global Corp.'s $2 Billion Commercial Paper Program Rated 'A-2'

FARMERS BRANCH (S&P Global Ratings) March 26, 2020-- S&P Global Ratings said today it assigned its 'A-2' short-term rating to Palm Beach Gardens, Fla.-based heating, ventilating, and air conditioning (HVAC), refrigeration, fire, and security products provider Carrier Global Corp.'s proposed $2 billion 4(a)(2) commercial paper program. On Feb. 7, 2020, we had assigned our 'A-2' short-term issuer credit rating to Carrier.
Carrier will use the commercial paper program for working capital requirements and general corporate purposes. The program will be backed by its $2 billion revolving credit facility. The issuer credit rating on Carrier is 'BBB', and the outlook is stable. We view Carrier's liquidity to be strong.
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