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S&P: W.W. Grainger notes AA
Standard & Poor’s said it assigned an AA rating to W.W. Grainger Inc.’s proposed $1 billion notes.
The proceeds will be used for general corporate purposes, including share repurchases and repayment of commercial paper, the agency said.
The company’s AA corporate credit rating, A-1+ short-term corporate credit and commercial-paper ratings are unchanged.
The outlook is stable.
The ratings reflect the company’s excellent business risk profile and modest financial risk profile, S&P said.
The company offers a broad product line to a diverse customer base through an integrated network of more than 700 branches, roughly 50% of which are in the United States, the agency said.
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