S&P Weighs in on Dick’s New Notes
Dick’s SG is selling $400 million of 6.200% senior notes due in 2036 and $600 million of 6.900% senior notes due in 2056 to raise cash for share repurchases and other general corporate purposes. S&P Global assigned a BBB issue-level rating to the debt, which is on equal footing with its existing senior unsecured debt, while affirming DKS’ BBB issue credit rating and stable outlook. If the retailer uses the full issuance for stock buybacks, adjusted leverage could rise to ... Log in to view full article.
