Seattle-based coffeehouse company Starbucks Corp.'s profitability gains continue to propel improvement in credit measures. We anticipate expansion in international markets and product innovation will continue to boost profit growth. We are raising our corporate credit rating on Starbucks to 'A-' from 'BBB+'. The outlook is stable, reflecting our expectation for further EBITDA gains and modest improvement of credit measures over the near term. On Feb. 24, 2012, Standard&Poor's Ratings Services raised its corporate credit rating on Seattle-based Starbucks Corp. to 'A-' from 'BBB+'. The outlook is stable. At the same time, we raised our rating on the company's $550 million senior unsecured notes to 'A-' from 'BBB+' and affirmed our 'A-2' short-term rating. The ratings on Starbucks reflect
