Fitch rates Colgate-Palmolive notes AA-

Fitch Ratings said it assigned an AA- rating to Colgate-Palmolive Co.'s $400 million 0.9% notes due May 1, 2018 and $400 million 2.1% notes due May 1, 2023.

The company has a long-term issuer default rating of AA-, short-term issuer default rating of F1+, senior unsecured notes rating of AA-, revolving credit facilities rating of AA- and commercial-paper program rating of F1+.

The proceeds will be used to repay and retire the $250 million 4.2% notes due May 15, the agency said, with the remainder used for general corporate purposes, including repaying commercial paper.

The ratings reflect the company's scale with about $17 billion in revenues for the last 12 months ended March 31, along with leading market shares, consistently strong operating performance and considerable liquidity, Fitch said.

Colgate-Palmolive is one of the most geographically diversified consumer products companies, generating more than 80% of its revenues outside the United States, the agency said.

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