TEXT-S&P rates Dollar General snr unsecured notes

Wed Jun 27, 2012 1:29pm EDT

June 27 - Standard & Poor's Ratings Services said today that it assigned a
'BB+' issue-level rating to Dollar General Corp.'s proposed $450 million
unsecured notes due 2017. The company plans to use the proceeds of this debt
offering to refinance all $451 million of its subordinated notes due 2017. We
rate the proposed unsecured notes one notch below our 'BBB-' corporate credit
rating on the company because of the substantial amount of priority debt on the
capital structure. Priority debt includes about $1.96 billion of senior secured
term loans and $585 million outstanding under its asset-based revolving credit
facility as of May 4, 2012.

The 'BBB-' corporate credit rating and stable outlook on Dollar General remain 
unchanged. (For complete corporate credit rating rationale, see the full 
analysis on Dollar General, published on May 4, 2012.)

     -- 2008 Corporate Criteria: Our Rating Process, April 15, 2008
     -- 2008 Corporate Criteria: Rating Each Issue, April 15, 2008


Dollar General Corp.
 Corporate Credit Rating                 BBB-/Stable/--

New Ratings

Dollar General Corp.
 Senior Unsecured
  $450 mil nts due 2017                  BB+