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Lowe's Cos. Inc. $1 Bil. Senior Unsecured Notes Assigned 'A-' Unsecured Debt Rating Nov 11 Product Image

Lowe's Cos. Inc. $1 Bil. Senior Unsecured Notes Assigned 'A-' Unsecured Debt Rating Nov 11

  • Published: November 2011
  • Standard & Poors

FEATURED COMPANIES

Abstract
CHICAGO (Standard & Poor's) Nov. 16, 2011--Standard & Poor's Ratings Services said today that it assigned its 'A-' senior unsecured debt rating to Mooresville, N.C.-based Lowe's Cos. Inc.'s proposed $1 billion senior unsecured notes, which we expect the company to issue in ten-year and thirty-year tranches. We expect the company to issue the proposed notes under the company's Rule 415 shelf registration statement filed Sept. 2, 2009. We believe that Lowe's will use the net proceeds for share repurchases. All of the company's existing ratings, including the 'A-' corporate credit rating, remain unchanged. We estimate that pro forma for the proposed issuance Lowe's will have about $7.6 billion of debt outstanding. Our outlook on the rating is negative. We base...

Companies mentioned in this report are: Lowe's Cos. Inc.
Action: New Rating

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Lowe's Cos. Inc.

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