NIKE Inc.'s Proposed Senior Unsecured Notes Rated 'AA-' - S&P Global Ratings’ Credit Research

NIKE Inc.'s Proposed Senior Unsecured Notes Rated 'AA-'

NIKE Inc.'s Proposed Senior Unsecured Notes Rated 'AA-' - S&P Global Ratings’ Credit Research
NIKE Inc.'s Proposed Senior Unsecured Notes Rated 'AA-'
Published Mar 25, 2020
3 pages (1350 words) — Published Mar 25, 2020
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) March 25, 2020--S&P Global Ratings today assigned its 'AA-' issue-level rating to NIKE Inc.'s proposed senior unsecured notes issued in five tranches. The notes will rank pari passu with the company's existing senior unsecured notes. NIKE will use the net proceeds from this offering for general corporate purposes. We expect the transaction to be leverage neutral. We calculated leverage at about 0.7x at the quarter ending Feb.29, 2020. Our rating on NIKE continues to reflect its position as the world's largest seller of athletic footwear and apparel, its significant scale, strong geographic and channel diversification, and solid digital penetration. It also incorporates strong credit measures, solid cash flow generation, and conservative financial policies, and we

  
Brief Excerpt:

...- General Criteria: Group Rating Methodology, July 1, 2019 - Criteria | Corporates | General: Corporate Methodology: Ratios And Adjustments, April 1, 2019 - Criteria | Corporates | General: Reflecting Subordination Risk In Corporate Issue Ratings, March 28, 2018 - General Criteria: Methodology For Linking Long-Term And Short-Term Ratings, April 7, 2017 - Criteria | Corporates | Industrials: Key Credit Factors For The Branded Nondurables Industry, May 7, 2015 - Criteria | Corporates | General: Methodology And Assumptions: Liquidity Descriptors For Global Corporate Issuers, Dec. 16, 2014 - General Criteria: Country Risk Assessment Methodology And Assumptions, Nov. 19, 2013...

  
Report Type:

Ratings Action

Ticker
NKE
Issuer
NIKE Inc.
GICS
Footwear (25203020)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

NIKE Inc. – 2020/12/24 – US$ 500.00

Nike Inc. – 2021/10/21 – US$ 500.00

Nike Inc. – 2022/10/17 – US$ 500.00

Nike Inc. – 2023/10/17 – US$ 500.00

Nike Inc. – 2019/11/12 – US$ 500.00

Summary: NIKE Inc. – 2018/03/08 – US$ 225.00

Summary: NIKE Inc. – 2016/02/22 – US$ 225.00

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "NIKE Inc.'s Proposed Senior Unsecured Notes Rated 'AA-'" Mar 25, 2020. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/NIKE-Inc-s-Proposed-Senior-Unsecured-Notes-Rated-AA-2401349>
  
APA:
S&P Global Ratings’ Credit Research. (). NIKE Inc.'s Proposed Senior Unsecured Notes Rated 'AA-' Mar 25, 2020. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/NIKE-Inc-s-Proposed-Senior-Unsecured-Notes-Rated-AA-2401349>
  
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