S&P rates Adobe Systems notes BBB+

Standard & Poor's said it affirmed its BBB+ corporate credit rating on Adobe Systems Inc. and assigned BBB+ senior unsecured debt ratings to the company's $600 million 3.25% notes due 2015 and $900 million 4.75% notes due 2020.

The proceeds will be used for general corporate purposes, including repayment of $1 billion in aggregate principal amount outstanding under Adobe's credit facility.

The outlook is stable.

The rating reflects Adobe's solid market position, a successful track record of integrating acquired operations and modest leverage, S&P said.

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