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Section: Rating - Fitch Ratings has assigned a 'BBB' rating to CBS Corporations' (CBS) proposed 10- and 30-year senior unsecured note offering. The proceeds are expected to be used to tender for up to $250 million of CBS' senior notes and debentures due in 2012 (currently $207 million of 8.625% debentures and $533 million of 5.625% senior notes outstanding), as well as to fund the company's anticipated par call of the $335 million 7.25% senior notes due 2051. Fitch currently has a 'BBB' Issuer Default Rating (IDR) for CBS. The Rating Outlook is Stable.
CBS will issue the senior notes under the amended and restated indenture dated as of Nov. 3, 2008 and first supplemental …