DBRS Assigns Rating of A (low) to Lowe’s New Debt Issuance, Stable Trend

DBRS has today assigned a rating of A (low) with a Stable trend to Lowe’s Companies, Inc.’s (Lowe’s or the Company) multi-tranche debt issue totalling $1.25 billion announced on September 3, 2014.

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

(1) $450 million of floating rate, senior unsecured notes due 2019,

(2) $450 million of senior unsecured notes due 2024, and

(3) $350 million of senior unsecured notes due 2044.

The Notes will be unsecured obligations ranking pari passu with Lowe’s other senior unsecured indebtedness. The Company intends to use the net proceeds from the Notes for general corporate purposes, including share repurchases.

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

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

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

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.