Fitch rates Starbucks notes BBB+

Fitch Ratings said it affirmed the long-term issuer default rating of Starbucks Corp. at BBB+ and affirmed the short-term issuer default rating at F2.

Fitch also assigned a BBB+ rating to the company's multi-tranche issuance of seven-year, 10-year and 30-year senior unsecured notes.

Proceeds are expected to be used for general corporate purposes including the repayment of outstanding borrowings on its commercial paper facility, the repurchase of common stock under the company's ongoing share repurchase program, business expansion, and payment of cash dividends or the financing of possible acquisitions.

The outlook is stable.

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