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Interest rate on debt |
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| Note: The purchase price reported is before any fair market value adjustment for above market interest rate on debt assumed). In addition, fixed-charge coverage declined during the year, primarily due to increased average interest rate on debt, but it remains acceptable for the rating category at 2. During the year Safeway reduced the average interest rate on debt by refinancing a significant portion of higher cost debt, entering the commercial paper market, and negotiating a new bank credit agreement. |
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