S&P rates Colgate-Palmolive notes AA-

Standard & Poor's said that it assigned an AA- senior debt rating to Colgate-Palmolive Co.'s (AA-/stable/A-1+) $250 million of senior notes due 2014 and $250 million of senior notes due 2017.

These issues will be drawn from the company's series G medium-term note program. The proceeds from the debt issues will be used to repay commercial paper borrowings.

The ratings on Colgate-Palmolive 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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