DBRS Rates McKesson Corporation’s Note Offerings Totalling $900 Million at A (low), Stable Trend

DBRS has today assigned a rating of A (low) with a Stable trend to McKesson Corporation’s (McKesson or the Company) issue of the following senior unsecured notes (the Notes):

(1) $500 million, 0.95% three-year notes maturing December 4, 2015; and
(2) $400 million, 2.70% ten-year notes maturing December 15, 2022.

The Notes will rank pari passu with McKesson’s other senior unsecured indebtedness. McKesson intends to use the proceeds from the sale of the Notes for general corporate purposes, including the repayment of $500 million aggregate principal amount of 5.25% notes due March 1, 2013, and to replenish working capital that was used to repay the $400 million aggregate principal amount of 7.75% notes that matured on February 1, 2012.

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.