Moody's rates Service notes Ba3

Moody's Investors Service said it assigned a Ba3 rating to Service Corp. International's proposed issuance of $200 million of senior unsecured notes due 2020.

The proceeds, along with revolver borrowings, will be used to redeem the roughly $180 million of 7 3/8% senior unsecured notes due in 2014 and pay the associated call premium and transaction expenses.

The Ba2 corporate family and probability of default ratings, as well as all existing instrument ratings, remain unchanged.

The outlook remains stable.

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