Fitch gives Philip Morris notes A

Fitch Ratings said it has assigned Philip Morris International Inc.'s prospective issue of dollar-denominated notes an expected senior unsecured rating of A.

The agency said that Philip Morris is rated long-term issuer default A with stable outlook, and short-term issuer default rating F1.

The expected rating is contingent upon the receipt of final documents conforming to information already received by Fitch, which added that the company intends to use the proceeds of the notes to meet working capital requirements, repurchase shares and refinance existing short-term and medium-term debt.

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