DBRS Rates Sysco’s $750 Million Senior Unsecured Notes Issue at AA (low) with Negative Trend

DBRS has today assigned a rating of AA (low) with a Negative trend to Sysco Corporation’s (Sysco or the Company) issuance of $750 million senior unsecured notes (the Notes), which includes:

(1) Three-year, $300 million 0.55% notes, due June 12, 2015; and

(2) Ten-year, $450 million 2.6% notes, due June 12, 2022.

The Notes will be senior unsecured obligations ranking pari passu with Sysco’s other senior unsecured indebtedness. Proceeds from the offering are expected to be used for general corporate purposes, which may include acquisitions, refinancing of debt, working capital, share repurchases and capital expenditures.

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

The applicable methodology is Rating Companies in the Merchandising Industry, which can be found on our website under Methodologies.