S&P gives Wal-Mart notes AA

S&P said it assigned its AA issue-level rating to Wal-Mart Stores Inc.'s proposed multi-tranche senior unsecured note offering.

The agency said it expects the company to use the proceeds to partially fund its previously announced tender offer of up to $8.5 billion of certain tranches of existing senior unsecured notes for interest cost savings.

The ratings on Wal-Mart, including the AA corporate credit rating and stable outlook, are unchanged.

“We estimate that pro forma for the proposed issuance and debt repayment, leverage will remain largely unchanged and interest expense should improve modestly,” S&P said in a news release.

© 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.