S&P gives Panasonic notes A-

S&P said it assigned its A- long-term issue credit rating to three tranches of Panasonic Corp.'s (A-/negative/A-2) dollar-denominated senior notes with different maturities and base rates.

The $1 billion 2.536% notes are due July 19, 2022, the $1 billion 2.679% notes are due July 19, 2024 and the $500 million 3.113% notes are due July 19, 2029.

“We equalize the issue rating with our long-term issuer credit rating on the company,” the agency said in a news release.

“This reflects our view that Panasonic's use of debt is low enough to limit the possibility that any lenders might be significantly disadvantaged relative to other lenders.”

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