S&P gives Hershey notes A

Standard & Poor's said it assigned its A senior unsecured debt rating to Hershey Co.'s proposed $250 million notes due 2023.

The notes will be issued under the company's Rule 415 shelf registration.

Hershey intends to use net proceeds from this offering for general corporate purposes.

S&P said the corporate credit rating reflect its assessment of Hersey's business risk profile as "strong" and financial risk profile as "modest."

Key credit factors include the company's strong market position in the U.S. chocolate and confectionary market, good cash-generating ability, yet relatively narrow business and geographic focus, the agency said.

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