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S&P assigns Altria notes BBB
S&P said it assigned its BBB rating to Altria Group Inc.'s proposed senior unsecured notes.
“We expect Altria will use the net proceeds from the note offering for general corporate purposes, which may include repaying amounts outstanding under its fully drawn $3 billion revolver (not rated). The transaction does not meaningfully impact credit metrics,” said S&P in a press release.
All of the agency’s ratings on the company, including its BBB issuer credit rating, are unchanged, S&P said.
The outlook is stable.
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