DBRS Assigns Rating of “A” to Home Depot’s New Debt Issuance, Stable Trend

DBRS Limited (DBRS) has today assigned a rating of “A” with a Stable trend to Home Depot, Inc.’s (Home Depot or the Company) multi-tranche debt issuance totalling $3 billion announced on February 3, 2016.

The issuance is made up of the following tranches (collectively, the Notes):

(1) $1.35 billion, 2.00%, senior unsecured notes due April 1, 2021;

(2) $1.30 billion, 3.00% senior unsecured notes due April 1, 2026; and

(3) $350 million, 4.25% senior unsecured notes due April 1, 2046.

The Notes will be unsecured obligations ranking pari passu with Home Depot’s other senior unsecured indebtedness. The Company intends to use the net proceeds from the Notes for the repayment of its senior unsecured notes maturing March 1, 2016. Any proceeds not used for the repayment of the maturing notes will be used for general corporate purposes.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Companies in the Merchandising Industry, which can be found on our website under Methodologies.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.