By Josh Beckerman

Starbucks Corp. sold $1.75 billion of senior notes Tuesday, and plans to use the proceeds for purposes including repaying commercial paper borrowings, share buybacks and expansion.

Fitch affirmed its BBB+ rating for Starbucks, while Moody's affirmed its Baa1 rating. Moody's believes Starbucks "will be able to manage through the current operating challenges in China given its strong cash flow and excellent liquidity."

Starbucks sold $500 million of 2% notes due 2027, $750 million of 2.250% notes due 2030, and $500 million of 3.35% notes due 2050.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

March 10, 2020 18:22 ET (22:22 GMT)

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