DBRS Assigns Rating of “A” to Home Depot’s New Debt Issuance, Stable Trend

DBRS has today assigned a rating of “A” with a Stable trend to Home Depot, Inc.’s (Home Depot or the Company) multi-tranche debt issue totalling $3.25 billion announced on September 3, 2013.

The issuance is made up of the following tranches (collectively, the Notes):

(1) $1.15 billion 2.25% senior unsecured notes due 2018,

(2) $1.1 billion 3.75% senior unsecured notes due 2024, and

(3) $1.0 billion 4.875% senior unsecured notes due 2044.

The Notes will be unsecured obligations ranking pari passu with Home Depot’s other senior unsecured indebtedness. The Company intends to use the net proceeds from the Notes to refinance the $1.25 billion 5.25% senior unsecured notes that mature in December 2013 and to complete incremental share repurchases.

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.

This rating is endorsed by DBRS for use in the European Union.