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S&P rates Genuine Parts notes BBB
S&P said it assigned a BBB issue-level rating to Genuine Parts Co.'s planned senior unsecured notes.
The issuer’s outstanding senior unsecured notes are also rated BBB by S&P.
The company is expected to use the proceeds for general corporate purposes. This could include repaying borrowings under its $1.5 billion revolving credit facility due 2026 and prefunding its near-term maturities, including its $250 million of privately placed unsecured notes due Dec. 2.
The outlook is stable.
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