Goodlettsville, Tenn.-based Dollar General completed its IPO and used the bulk of the company's net proceeds to redeem $382 million of its outstanding senior subordinated and senior notes. The debt reduction and strong operating performance results in a meaningful improvement in credit measures with pro forma total debt to EBITDA declining to about 4.1x for the 12 months ended Oct. 30, 2009. We are raising our corporate credit rating on Dollar General to 'BB-' from 'B+'. The stable outlook supports our view that Dollar General's extreme value proposition, rationalized store base, and improved merchandising will support its current operating momentum and drive profitability. On Dec. 10, 2009, Standard&Poor's Ratings Services raised its corporate credit rating on Dollar General
