Fitch gives BBB to Kroger notes

Fitch Ratings said it assigned a rating of BBB to Kroger Co.'s $500 million issue of seven-year notes.

Proceeds will be used to repurchase commercial paper and for general corporate purposes.

The outlook is stable.

Fitch said Kroger's ratings are supported by its industry-leading sales growth and market share gains and relatively stable operating margins balanced against ongoing share repurchase activity and intense price competition.

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