S&P rates Walt Disney notes A

Standard & Poor's said it assigned the Walt Disney Co.'s proposed issuance of two-year floating-rate notes its A issue-level rating.

The company will use the proceeds of the issuance for general corporate purposes, which could include the repayment of near-term debt maturities.

S&P said it estimates the company's fully adjusted debt-to-EBITDA ratio to about 1.95 times as of Dec. 31.

While still within the 2 times adjusted leverage threshold for Disney at an A rating, the company now has limited room for economy-related underperformance, operational missteps or further large debt-financed acquisitions, the agency said.

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