CHICAGO (Standard&Poor's) Sept. 7, 2010--Standard&Poor's Ratings Services said today that it assigned its 'BBB+' issue rating to Home Depot Inc.'s proposed $500 million senior unsecured notes due 2020 and $500 million senior unsecured notes due 2040. Home Depot plans to issue the notes under its rule 415 shelf registration statement filed in August 2009. The rating is based on preliminary terms and conditions. The company expects to use the proceeds for the replacement of cash funds that were used to repay $1 billion of 4.625% senior notes that matured on Aug. 15, 2010. As a result, we view the new proposed aggregate $1 billion note issuance as leverage-neutral since it effectively replaces the previous $1 billion
