S&P assigns BBB+ to Starbucks notes

S&P said it assigned its BBB+ issue-level rating to Starbucks Corp.'s planned senior unsecured notes.

“All of our other ratings on Starbucks, including our BBB+ issuer credit rating and stable outlook, are unchanged,” S&P said in a press release.

The offering will be roughly leverage neutral because the company will use most of the proceeds to replace its recently matured notes and those maturing in the coming months, anything left will be used for general corporate purposes.

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