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Moody’s rates Colgate notes Aa3
Moody's Investors Service said it assigned an Aa3 rating to Colgate-Palmolive Co.'s proposed $600 million 30-year senior notes. The outlook is stable.
Colgate intends to use the proceeds for general corporate purposes, including the refinancing of commercial paper.
The agency said Colgate's Aa3 rating reflects the company's strong global market position in multiple consumer product categories supported by well-known brands and global distribution capabilities.
Exposure to mature markets and categories, particularly in the United States and Europe, competitive pressure and foreign exchange and commodity cost volatility are risks, Moody’s said.
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