Moody's rates Altria notes Baa1

Moody's Investors Service said it assigned a Baa1 rating to Altria Group Inc.'s senior unsecured notes offering.

Net proceeds from this offering will be used to refinance existing debt and for general corporate purposes.

All other ratings remain unchanged and the outlook is stable.

Moody's said Altria's Baa1 senior unsecured and Prime-2 short-term ratings reflect the company's significant scale and the low price elasticity of demand of its principal U.S. cigarette business. They also reflect the considerable franchise value of its leading premium cigarette, smokeless and other tobacco brands, as well as its strong profitability and stable cash flow characteristics, the agency said.

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