S&P gives BB+ to Dollar General notes, loans

Standard & Poor's said it assigned its BB+ senior unsecured debt rating to Dollar General Corp.'s proposed unsecured debt issues, including the senior unsecured notes due 2018 and 2023, totaling $1.3 billion, to be issued under a shelf registration statement, and a $1.85 billion unsecured credit facility due 2018 consisting of a $1 billion term loan and an $850 million unsecured revolver.

Concurrently, S&P said it placed the BB+ ratings on the proposed unsecured notes, unsecured term loan, and unsecured revolving credit facility on Credit Watch with positive implications.

The company will use proceeds to refinance secured debt.

"We expect to raise these ratings to BBB- upon the completion of the refinancing of the company's secured bank debt and related release of collateral," S&P said in a news release.

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