Fitch affirms Altria

Fitch Ratings said it has taken the following rating actions on the issuer default ratings and outstanding debt ratings of Altria Group, Inc., Philip Morris Capital Corp. and UST Inc.:

Altria's issuer default rating affirmed at BBB+; guaranteed bank credit facilities affirmed at BBB+; guaranteed senior unsecured debt affirmed at BBB+; short-term issuer default rating affirmed at F2 and commercial paper affirmed at F2;

Philip Morris Capital's issuer default rating affirmed at BBB+; senior unsecured debt affirmed at BBB+; short-term issuer default rating affirmed at F2; and CP affirmed at F2; and

UST's issuer default rating of A as well as its other ratings were withdrawn.

The outlook is stable.

Fitch added that Altria announced it completed the acquisition of UST, valued at $11.7 billion including the assumption of about $1.3 billion of UST debt.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.