New York, July 22, 2015 -- Moody's Investors Service assigned a Baa2 rating to Valspar Corporation's (Valspar) proposed $350 million 10 year non-callable senior unsecured notes. Net proceeds are expected to be used to repay $350 million outstanding under term loan credit facility that was incurred for general corporate purposes, including the initial funding of the acquisition of the performance coatings business of Quest Specialty Chemicals, which closed on June 1, 2015. The outlook on the ratings is stable.
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