S&P gives Brown-Forman notes A

Standard & Poor's said that it assigned its A senior unsecured debt rating to Brown-Forman Corp.'s $250 million note offering due 2014.

The agency said that it expects that Brown-Forman will use the proceeds for general corporate purposes, which may include retiring existing debt.

The ratings on Brown-Forman reflect the company's strong position in the distilled spirits and wine industry, relatively stable cash flow characteristics, and moderate financial policies, S&P noted.

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