U.S. discount retailer Dollar General Corp. continues to achieve strong operating results and we expect debt leverage to approach the low-2.0x area in 2012. We are placing our ratings, including the 'BB+' corporate credit rating, on CreditWatch with positive implications. We base the CreditWatch on continued cash flow expansion and our expectations for further improvement in its financial risk profile in 2012. On March 22, 2012, Standard&Poor's Ratings Services placed its ratings, including the 'BB+' corporate credit rating, on Credit Watch with positive implications, following Dollar General's better-than-expected operating results for the quarter ended Feb. 12, 2012. The 'BBB' rating on the $1.7 billion first-out term loan is affirmed and not placed on Credit Watch Positive because there
