Fitch affirms Colgate-Palmolive

Fitch Ratings said it affirmed Colgate-Palmolive's issuer default rating at AA-, senior unsecured notes at AA-, revolving credit facility at AA- and commercial paper program at F1+.

The outlook is stable.

The ratings reflect Colgate's scale, high market shares in key categories, as well as strong financial performance and credit metrics in an intensely competitive sector, Fitch said.

They also reflect the increasing level of pressure on the company's margins due to recent rapid escalation in key commodity costs related to oil and agricultural products, the agency said.

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