S&P Affirms FedEx Credit Ratings

The rating agency says the package-delivery giant should be able to achieve benefits from its Kinko's acquisition fairly quickly

On March 23, 2004, Standard & Poor's Ratings Services assigned its 'BBB' rating to FedEx Corp.'s (FDX ) $1.6 billion debt offering, issued under Rule 144A. The debt offering consists of three tranches: $600 million due 2005, $500 million due 2007, and $500 million due 2009. Standard & Poor's existing ratings on FedEx, including the long-term 'BBB' corporate credit rating and 'A-2' commercial paper ratings, are affirmed. The outlook is stable.

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