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S&P rates Sysco notes BBB-
S&P said it assigned its BBB- issue rating to Sysco Corp.'s proposed senior unsecured notes and placed the ratings on CreditWatch with negative implications.
The agency said it expects the proceeds will be used for general corporate purposes, which may include repaying borrowings under its commercial paper program and redeeming its senior unsecured notes due in October.
All of S&P’s ratings on the company, including the BBB- issuer credit rating, are unchanged and remain on CreditWatch with negative implications.
“We expect this issuance will help the company solidify its liquidity position in a highly uncertain environment,” said S&P in a press release.
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