Family Dollar Stores, Inc. -- Moody's places Family Dollar's senior unsecured rating on review for downgrade

New York, July 28, 2014 -- Moody's Investors Service today placed Family Dollar Stores, Inc. Baa3 senior unsecured notes rating on review for downgrade. The review for downgrade follows the announcement that Family Dollar and Dollar Tree, Inc. have entered into a merger agreement under which Dollar Tree will acquire Family Dollar for approximately $74.50 per share or an approximate enterprise value of $9.2 billion. The review for downgrade acknowledges that Moody's expects the combined entity to have significantly higher leverage with debt to EBITDA (as adjusted by Moody's for leases) of roughly 5.6 times to 6.0 times.The following ratings are placed on review for downgrade:

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