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Prospect News home > News index > List of issuers R > Headlines for R.R. Donnelley & Sons Co. > News item |
S&P rates R.R. Donnelley notes BBB
Standard & Poor's said it assigned R.R. Donnelley & Sons Co.'s proposed issuance of $300 million senior notes due 2020 its issue-level rating of BBB.
The long-term corporate credit rating is BBB.
The outlook is negative.
Proceeds will be used to repay borrowings outstanding under its revolving credit facility, which was used, in conjunction with cash on hand, to repay the company's 4.95% senior notes due May 15, 2010. Any remaining proceeds will be used for general corporate purposes.
The BBB rating reflects the company's leading market position and its strong cash flow base, the agency said.
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