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Fitch: RadioShack notes BB
Fitch Ratings said it assigned a BB rating to RadioShack Corp.'s new $300 million senior unsecured notes due 2019.
The proceeds will be used for general corporate purposes, including share repurchases.
The agency also said it affirmed its issuer default rating at BB, senior secured asset-based credit facility at BBB- and senior unsecured notes at BB.
The outlook is stable.
The rating reflects RadioShack's improving sales performance, positive free cash flow and strong liquidity Fitch said.
This is balanced by the company's uneven growth trends, vulnerability to changing consumer habits and the company's shareholder-friendly stance, Fitch said.
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