Business Services Industry
Fitch Assigns Ratings to Marshall & Ilsley's Debt Issuance
Business Wire, July 27, 2004
NEW YORK -- Fitch expects to assign an 'A ' senior debt rating and 'A' trust preferred rating to Marshall & Ilsley Corporation's (M&I) recently announced public debt issuance. The Rating Outlook is Stable.
The issuance includes $600 million of senior notes and up to $400 million of mandatorily convertible trust preferred securities, M&I Capital Trust B. The proceeds of the debt issuance will be used in part to finance acquisitions at the company's Metavante Corporation subsidiary, including the pending acquisition of the NYCE Corporation.
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