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Best Buy Co. Inc. Senior Unsecured Revolvers Assigned 'BBB-' Ratings Nov 11
Standard & Poors, Nov 2011
Abstract
New York (Standard & Poor's) Nov. 23, 2011--Standard & Poor's Ratings Services said today that it assigned its 'BBB-' senior unsecured debt rating to Richfield, Minn.-based Best Buy Co. Inc.'s $1.0 billion 364-day senior unsecured revolving credit facility (subject to a one-year term out option) and $1.5 billion senior unsecured revolving credit facility, maturing Oct. 7, 2016. The new facilities replace the unrated $2.3 billion senior unsecured facility expiring in September 2012. All of the company's existing ratings, including the 'BBB-' corporate credit rating, remain unchanged. Our outlook on the company is stable. Total adjusted debt outstanding as of Aug. 27, 2011, was approximately $8.34 billion. We expect Best Buy to use the new revolving credit facilities for general corporate...
Companies mentioned in this report are: Best Buy Co. Inc.
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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