Moody's rates UST notes A3

Moody's Investors Service said it assigned a rating of A3 to UST, Inc.'s newly issued $300 million senior unsecured notes due 2018.

The funds will be used to repay short-term debt, Moody's said, adding that it also affirmed UST's A3 long-term debt and Prime-2 commercial paper rating.

The outlook remains stable.

The agency said that UST's A3 rating and stable outlook reflect its powerful brands and strong market share position in smokeless tobacco, high profitability and stable cash flow, conservative financial policies and credit metrics.

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