Moody’s rates Couche-Tard notes Baa2

Moody’s Investors Service said it assigned Baa2 ratings to Alimentation Couche-Tard, Inc.’s proposed new senior unsecured notes due in 2030 and new senior unsecured notes due in 2050. The Baa2 ratings on the company’s existing senior unsecured notes and stable outlook remain unchanged.

The total amount of the issuances is targeted to be about $1 billion and the proceeds will be used to repay the currently drawn amount under the company’s senior unsecured revolving credit facility with the remainder of the proceeds retained as cash on the balance sheet for general corporate purposes.

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