Albertsons Cos. Inc.'s Proposed Senior Unsecured Notes Due 2026 Rated 'B+' (Recovery Rating: '2')

NEW YORK (S&P Global Ratings) Jan. 22, 2019--S&P Global Ratings today assigned its 'B+' issue-level rating and '2' recovery rating to Albertsons Cos. Inc.'s proposed $500 million senior unsecured notes due 2026. The '2' recovery rating indicates our expectation for substantial recovery to lenders (70%-90%; rounded estimate: 85%). At the same time, we lowered our issue-level rating on New Albertsons L.P.'s notes to 'CCC+' from 'B-' and revised the recovery rating to '6' from '5'. The '6' recovery rating indicates our expectation for negligible (0%-10%; rounded estimate: 5%) recovery. We also raised our issue-level rating on Safeway Inc.'s notes to 'B+' from 'B' given we revised our recovery rating to '2' from '3'. The '2' recovery rating indicates our expectation

...NEW YORK (S&P Global Ratings) Jan. 22, 2019--S&P Global Ratings today assigned its 'B+' issue-level rating and '2' recovery rating to Albertsons Cos. Inc.'s proposed $500 million senior unsecured notes due 2026. The '2' recovery rating indicates our expectation for substantial recovery to lenders (70%-90%; rounded estimate: 85%). At the same time, we lowered our issue-level rating on New Albertsons L.P.'s notes to '###+' from 'B-' and revised the recovery rating to '6' from '5'. The '6' recovery rating indicates our expectation for negligible (0%-10%; rounded estimate: 5%) recovery. We also raised our issue-level rating on Safeway Inc.'s notes to 'B+' from 'B' given we revised our recovery rating to '2' from '3'. The '2' recovery rating indicates our expectation for substantial (70%-90%; rounded estimate: 85%) recovery. Albertsons will use the proceeds from the new 2026 notes to repay about $270 million of Safeway notes due in 2019 and add cash to its balance sheet. We revised our recovery...

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