S&P rates Snap-On USD-250m notes at A-.

(ADPnews) - Dec 10, 2010 - S&P on Thursday gave its A- rating to the USD 250 million (EUR 189m) senior unsecured notes due 2018 to be issued by Snap-on Inc (NYSE:SNA).

The US industrial tools, diagnostics, equipment, software and service solutions provider will issue the notes within its shelf and use the proceeds for general corporate funding.

The investment-grade A- rating with a "stable" outlook on Snap-on reflects its "strong" debt-servicing ability that is unlikely to sway in a period of 12 to 24 months.

Analysts project a …