U.S. discount retailer Dollar General redeemed all $839.3 million outstanding 10.625% senior notes due 2015. We expect that lower debt levels from the notes redemption, along with cash flow expansion from positive operating momentum, to result in total debt to EBITDA of about 2.7x in fiscal 2011. We are raising our ratings on Dollar General, including the corporate credit rating, to 'BB+' from 'BB'. At the same time, we are removing all ratings from CreditWatch with positive implications. The stable outlook reflects our expectation that the company's financial risk profile will remain significant under our criteria. On July 20, 2011, Standard&Poor's Ratings Services raised its ratings on discount retailer Dollar General Corp. to 'BB+' from 'BB'. The outlook
