NEW YORK (Standard&Poor's) May 3, 2011--Standard&Poor's Ratings Services said today that it assigned its 'BBB' senior unsecured debt rating on Richmond, Va.-based Altria Group Inc.'s $1.5 billion 4.75% senior unsecured notes maturing in May 2021. Altria issued the notes under the company's existing Rule 415 shelf registration, and the notes are fully and unconditionally guaranteed by Philip Morris USA Inc., a wholly owned subsidiary of Altria. Standard&Poor's expects Altria to use net proceeds from the issuance for general corporate purposes, including the funding of share repurchases. We expect the company will continue to maintain credit protection measures at or close to current levels in 2011, including leverage in the 2x area. Related Research&
