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DBRS rates Costco notes A (high)
DBRS Ltd. said it assigned a rating of A (high) with a stable trend to Costco Wholesale Corp.’s multi-tranche debt issue totaling $1 billion announced on Feb. 5.
The issuance is made up of $500 million of 1.75% senior unsecured notes due 2020 and $500 million of 2.25% senior unsecured notes due 2022.
The Notes will be unsecured obligations ranking pari passu with Costco’s other senior unsecured indebtedness.
The company intends to use net proceeds to partially fund a special cash dividend on its common stock of about $2.2 billion (announced on Jan. 30).
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