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Fitch rates Altria notes BBB+
Fitch Ratings said it assigned a BBB+ rating to Altria Group Inc.'s senior unsecured notes issuances.
The notes are being issued in two tranches with $1.4 billion due in 2024 and $1.8 billion due in 2044.
The outlook is stable.
The senior unsecured notes will rank equal to Altria's other existing and future senior unsecured indebtedness. The notes will be guaranteed by Philip Morris USA Inc., Altria's wholly owned subsidiary and subject to a Change of Control provision, whereby the company will be required to make an offer to purchase the notes at 101% plus accrued and unpaid interest upon a change of control and a downgrade below investment grade.
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