S&P rates Colgate-Palmolive notes AA-

Standard & Poor's said it assigned an AA- senior unsecured debt rating to Colgate-Palmolive Co.'s $250 million of 2.95% senior unsecured notes due November 2020 and $188 million of 1.375% senior unsecured notes due November 2015.

These issues will be drawn from the company's series F medium-term note program.

The proceeds will be used to repay commercial paper borrowings and for leverage to remain unchanged, the agency said.

S&P said it expects credit protection measures to remain stable through the remainder of 2010, including

leverage in the 1x range.

The ratings reflect its diversified portfolio of consumer brands, extensive international presence, strong cash flow generating ability and conservative financial policies, the agency said.

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