Moody's ups Dollar General

Moody's Investors Service said it upgraded the senior unsecured debt and other ratings of Dollar General Corp. to Ba1 from Ba2 and assigned a stable outlook. The agency said the senior implied rating now is Ba1, as is the issuer rating.

The upgrade reflects the company's solid performance, enhanced internal controls put in place by management, finalization of its settlement with the Securities and Exchange Commission and appropriate financial policies, Moody's said.

The agency also noted the company's continued solid performance despite the economic pressures facing its core customer and its strong liquidity and free cash flow generation.

Moody's said it has concerns regarding senior management depth and corporate governance.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.