- Language: English
- 29 Pages
- Published: December 2008
- Region: World
Woolworths Ltd.'s Domestic Unlimited MTN Program And Initial A$500 Million Issue Rated 'A-' Mar 11
- Published: March 2011
- Standard & Poors
MELBOURNE (Standard & Poor's) March 8, 2011--Standard & Poor's Ratings Services said today that it had assigned its 'A-' long-term rating to Woolworths Ltd.'s (A-/Stable/A-2) unlimited domestic medium-term-note program and the initial A$500 million issue from the program. The A$500 million 6.75% notes issue, which has a tenor of five years maturing on March 22, 2016, ranks pari passu with all of Woolworths' existing senior-unsecured debt. Proceeds from the notes are expected to be used for general corporate purposes and the repayment of maturing notes. In our view, Woolworths' credit profile is underpinned by significant market positions in Australian and New Zealand supermarket retailing. Duopoly-like characteristics in both markets moderate the competitive pressures for Woolworths compared with retailing in most...
Companies mentioned in this report are: Woolworths Ltd.
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.
SHOW LESS READ MORE >
|Electronic||The report will be emailed to you.|