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Fitch rates Kroger notes BBB
Fitch Ratings said it assigned a BBB rating to Kroger Co.'s $750 million 6.15% 12-year senior unsecured notes.
The outlook is stable
Proceeds will be used to refinance existing maturities and for general corporate purposes.
According to the agency, the rating reflects Kroger's well-executed operating strategy, which has led to positive operating trends, its position as one of the largest U.S. supermarket companies with a diverse store base and its strong cash flow generation.
Also considered are the highly competitive operating environment and the pressure on operating margins over time as well as the Kroger's dedication to returning funds to shareholders, Fitch said.
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