Fitch rates Wal-Mart notes AA

Fitch Ratings said it assigned an AA rating to Wal-Mart Stores, Inc.'s $1 billion 3.2% senior unsecured notes due 2014. The company has AA long- and F1+ short-term issuer default ratings, and its bank credit facility and senior notes are rated AA.

The outlook is stable.

The proceeds will be used for general corporate purposes.

The agency said the ratings reflect Wal-Mart's dominant market position supported by its price leadership and value proposition offerings, a low cost structure and its steady operating performance, which has resulted in consistent solid credit metrics despite slower store base growth of approximately 3% in the United States.

These factors are balanced by a more challenging economic environment, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.