DBRS confirms Wal-Mart Stores

DBRS Ltd. said it confirmed Wal-Mart Stores, Inc.’s senior unsecured debt and issuer rating at AA and commercial paper at R-1 (middle). The trends remain stable.

DBRS said the rating confirmations reflect Walmart’s stable earnings profile, as well as its consistently strong free cash flow generation.

The ratings continue to be supported by Walmart’s large scale and dominant market position and its general resilience to swings in economic cycles. The rating confirmations also consider intense competition in the retail industry, the mature nature of the company’s core U.S. market and risks associated with international expansion.

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