Fitch rates Colgate notes AA-

Fitch Ratings said it has assigned an AA- rating to Colgate-Palmolive Co.'s $500 million of 1.75% medium-term notes due March 15, 2019 and $500 million of 3.25% medium-term notes due March 15, 2024.

The company plans to use $600 million of the proceeds to repay and retire its $250 million of 1.25% medium-term notes due May 1, 2014 and the €250 million of 4.75% medium-term notes due June 13, 2014.

The remainder will be used for general corporate purposes, including repaying outstanding commercial paper balances, the agency said.

Fitch noted that the ratings reflect the company's scale with more than $17 billion of revenues at Dec. 31, leading market shares, consistently strong operating performance and considerable liquidity.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.