DBRS Rates Safeway’s $500 Million Senior Unsecured Notes Issuance at BBB, Stable Trend

DBRS has today assigned a rating of BBB with a Stable trend to Safeway Inc.’s announced issue of $500 million 3.95% senior unsecured ten-year notes (Notes). The Notes will rank pari passu with all of Safeway Inc.’s other senior unsecured obligations. The proceeds will be used to repay commercial paper and to help refinance outstanding indebtedness.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Food Retailers, which can be found on our website under Methodologies.

This is a Corporate rating.