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Prospect News home > News index > List of issuers L > Headlines for Lorillard, Inc. > News item |
S&P rates Lorillard Tobacco notes BBB-
Standard & Poor's said it assigned a BBB- senior unsecured debt rating to Lorillard Tobacco Co.'s $750 million 8.125% senior unsecured notes due June 2019.
Lorillard Tobacco is a wholly owned subsidiary of Lorillard Inc. (BBB-/negative).
The company is expected to use proceeds from the proposed debt offering to fund share repurchases and for general corporate purposes, the agency said.
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