TEXT-Fitch expects to rate Johnson Controls notes

Newswire

(The following statement was released by the rating agency) Dec 1 - Fitch Ratings expects to assign a rating of 'BBB+' to $1.1 billion of new senior unsecured notes being issued by Johnson Controls, Inc. (JCI). The notes consist of a mix of five-, ten- and 30-year maturities. Proceeds will be used to repay short-term debt and for general corporate purposes. The Rating Outlook is Stable. A full rating list is shown below. At fiscal year end Sept. 30, 2011 debt/EBITDA was approximately 1.9 ...

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