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.)

RELATED CRITERIA AND RESARCH
     -- 2008 Corporate Criteria: Our Rating Process, April 15, 2008
     -- 2008 Corporate Criteria: Rating Each Issue, April 15, 2008

RATINGS LIST

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

New Ratings

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