S&P rates Walmart notes AA

S&P said it assigned its AA issue-level rating to Walmart Inc.’s proposed senior notes.

“The potential $1 billion offering is leverage neutral and will keep lease-adjusted debt-to-EBITDA at the high-1x level for the next 12 months, which is in line with our expectations,” said S&P in a press release.

Walmart will offer 10- and 30-year notes, which will rank equally with all other senior unsecured debt obligations.

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