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Fitch Rates General Mills' Proposed $750MM Sr Unsecured Notes 'BBB+'; Outlook Negative.
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Business Wire
- Article date:
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March 12, 2008
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CHICAGO -- Fitch Ratings has assigned a 'BBB+' rating to General Mills, Inc.'s (General Mills) proposed $750 million senior unsecured notes due 2015. The company's current ratings are as follows:
General Mills, Inc.
--Issuer Default Rating (IDR) 'BBB+';
--Senior unsecured debt 'BBB+';
--Senior unsecured credit facilities 'BBB+';
--Senior unsecured convertible notes 'BBB+';
--Short-term IDR 'F2'.
General Mills Cereals LLC
--IDR 'BBB+';
--Class A preferred membership interests 'BBB+'.
Total debt was $7.9 billion at Nov. 25, 2007, including $1.9 billion of commercial paper (CP). The Rating Outlook is Negative.
The company intends ...