Moody's rates Woolworths

Moody's Investors Service said it assigned A3 senior unsecured ratings to Woolworths Ltd.'s senior unsecured notes totaling $1.25 billion. The notes rated include its $500 million due Sept. 22, 2015 with a fixed-rate coupon of 2.55% and $750 million due Sept. 22, 2020 with a fixed-rate coupon of 4%.

The proceeds will be used to refinance existing debt facilities, partially fund the company's recently announced off-market share buyback and other corporate purposes, Moody's said.

The assigned ratings considered the global retail industry rating methodology published by the agency in 2006, Moody's said.

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