Moody’s raises Dollar General to Baa2

Moody's Investors Service said it upgraded Dollar General Corp.’s senior unsecured rating to Baa2 from Baa3.

The outlook is stable.

"The upgrade is a result of the company's gross margin expansion and continued same store sales growth resulting in increasing profitability and strong credit metrics," Moody's vice president Mickey Chadha said in a news release.

"We expect the company's capital structure and credit metrics to remain consistent with its investment grade profile and we do not anticipate any change in existing financial policy which includes a 3.0 times lease adjusted debt to EBITDAR target."

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