S&P rates Colgate-Palmolive notes AA-

Standard & Poor’s said it assigned an AA- senior unsecured debt rating to Colgate-Palmolive Co.’s euro-denominated four-year senior unsecured notes.

The notes will be drawn from the company’s series H medium-term note program.

The proceeds will be used for general corporate purposes, including debt repayment, S&P said.

All of the existing ratings on Colgate-Palmolive are unchanged.

The ratings reflect the company’s solid position as the largest competitor in the global oral care segment, high brand equity and awareness, diversified portfolio of consumer brands and extensive international presence, the agency said.

The company’s financial risk profile reflects its solid cash-flow generating ability, strong credit measures and conservative financial policy, S&P said.

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