Fitch rates QVC notes BBB-

Fitch Ratings said it assigned a BBB-/RR1 rating to QVC Inc.’s proposed offering of senior secured notes.

Proceeds are expected to be used for repaying amounts outstanding on its credit facility and for general corporate purposes.

“Fitch expects sufficient net proceeds will be directed towards debt repayment to make this largely a leverage neutral transaction as management has not articulated any change to their net leverage target of 2.5x,” the agency said in a press release.

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