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S&P gives Washington Post notes A+
Standard & Poor's said it assigned its A+ rating to Washington Post Co.'s proposed $400 million senior unsecured notes due 2019.
The agency said it expects the company to use the proceeds from the notes to repay the $400 million of senior unsecured notes maturing Feb. 15, 2009.
The long-term corporate credit rating on Washington Post Co. is A+ and the outlook is negative, S&P noted, adding that the rating is supported by the company's modest financial risk profile, ample levels of excess liquidity, leading and diverse business positions, and healthy cash flow generation.
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