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S&P: Dollar General notes BB+
Standard & Poor's said it assigned a BB+ rating to Dollar General Corp.'s proposed $450 million unsecured notes due 2017.
The company plans to use the proceeds of this debt offering to refinance all $451 million of its subordinated notes due 2017.
The agency said it rates the proposed unsecured notes one notch below the BBB- corporate credit rating on the company because of the substantial amount of priority debt on the capital structure.
The BBB- corporate credit rating and stable outlook on Dollar General remain unchanged, S&P added.
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