Fitch rates Walmart notes AA

Fitch Ratings said it assigned an AA rating to Walmart, Inc.’s proposed offering of $1 billion in senior notes.

“Walmart’s ratings reflect its dominant global retail market share position, with over $514 billion of 2018 (ended January 2019) revenue, positive comparable store sales (comp) trend, substantial cash flow, and consistent financial strategy, which has resulted in stable leverage over time,” Fitch said in a press release.

Proceeds will be used for general corporate purposes, which Fitch said it believes could include the partial refinancing of unsecured notes due 2020 or repayment of commercial paper.

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