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DBRS rates McKesson notes A
DBRS said it has assigned a rating of A (low) with a stable trend to McKesson Corp.'s $500 million of 0.95% three-year notes maturing Dec. 4, 2015 and $400 million of 2.7% 10-year notes due Dec. 15, 2022.
The notes will rank pari passu with McKesson's other senior unsecured indebtedness, the agency said.
According to DBRS, McKesson intends to use the proceeds from the sale of the notes for general corporate purposes, including the repayment of $500 million aggregate principal amount of 5.25% notes due March 1, 2013 and to replenish working capital that was used to repay the $400 million aggregate principal amount of 7.75% notes that matured on Feb. 1, 2012.
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