S&P rates Walt Disney notes A

Standard & Poor's said it assigned the Walt Disney Co.'s new benchmark issuance of three-year and 30-year debt its A issue-level rating.

According to S&P, the company plans to use the proceeds of the issuance for general corporate purposes, which could include the repayment of near-term debt maturities.

S&P said it estimates the impact of this issuance on Disney's leverage metrics will be slightly over 0.1x, assuming the entire amount of debt is incremental. This would bring the company's fully adjusted debt to EBITDA ratio to the agency's threshold of 2.0x for the A corporate credit rating on Disney.

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