CHICAGO — Fitch Ratings here said Thursday it has assigned a rating of BBB-minus to Safeway's $250 million floating rate notes due in 2013, with a stable rating outlook. Proceeds from the notes will be used to repay commercial paper borrowings, which totaled $701 million on June 5. According to Fitch, the rating reflects Safeway's broad geographic presence and strong positions in its key markets, cost reduction efforts and solid cash-flow generation; it also reflects ...
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