USA: Fitch rates Kroger's $1B senior notes 'BBB'
The Kroger Co.'s (Kroger) $500 million 6.8% senior notes due 2011 and the $500 million 7.5% senior notes due 2031 are rated 'BBB' by Fitch. Proceeds from the issuance will be used to refinance existing debt. The Rating Outlook is Stable. The rating reflects Kroger's leading position in the food retailing industry, broad geographic reach and solid operating performance. The rating also considers the company's continued ability to achieve anticipated synergies, the competitive operating environment given the mature nature of the industry and limited food price inflation and Kroger's appetite for future acquisitions.
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