S&P assigns A+ to Pepsi Singapore notes

S&P said it assigned its A+ issue-level rating to PepsiCo Singapore Financing I Pte. Ltd.'s planned senior unsecured notes with final amounts and maturities to be determined. The issuer’s parent PepsiCo Inc. will guarantee the notes.

“All of our ratings on PepsiCo, including our A+ long-term issuer credit rating, are unchanged. The outlook is stable. Recently established PepsiCo Singapore is a finance subsidiary, which has no assets or operations other than as related to the issuance, administration, and repayment of any debt securities that the issuer may sell,” S&P said in a press release.

PepsiCo will use the proceeds for general corporate purposes, including to repay commercial paper borrowings.

Moody’s rates PepsiCo Singapore notes A1

Moody’s Investors Service said it an A1 rating to PepsiCo Singapore Financing I Pte. Ltd.'s new dollar-denominated backed senior unsecured notes. Parent PepsiCo Inc. will guarantee the notes. The issuer is a financing unit and has no other operations.

All other ratings for PepsiCo and its subsidiaries including the A1 senior unsecured are unchanged, the agency said.

The proceeds are intended for general corporate purposes, including the repayment of commercial paper and other near-term debt maturities. “The offering is credit positive because it will improve liquidity by reducing commercial paper and extending maturities without materially affecting cash interest costs,” Moody’s said in a press release.

The outlook is stable.

DBRS assigns BBB to RioCan notes

DBRS said it assigned a BBB rating to RioCan Real Estate Investment Trust’s C$300 million of 5.47% series AJ senior unsecured debentures due March 1, 2030.

The rating is aligned with those on RioCan’s outstanding senior unsecured debentures.

RioCan is expected to use the proceeds to repay amounts owing under certain credit facilities and for general business purposes.

The trend is stable.

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