DBRS Rates Wal-Mart Stores, Inc.’s €1.5 Billion Senior Unsecured Notes Issue at AA with Stable Trend

DBRS has today assigned a rating of AA with a Stable trend to Wal-Mart Stores, Inc.’s (Walmart or the Company) new senior unsecured notes issuance.

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

(1) €850 million 1.9% notes due April 8, 2022, and
(2) €650 million 2.55% notes due April 8, 2026.

The Notes will be senior unsecured debt obligations ranking pari passu with Walmart’s other senior unsecured indebtedness. Proceeds from the offering are expected to be used for general corporate purposes.

Notes:
All figures are in Euros unless otherwise noted.

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

The applicable methodology is Rating Companies in the Merchandising Industry (October 2013), which can be found on our website under Methodologies.