S&P rates Colgate-Palmolive euro notes AA-

S&P said it assigned its AA- issue-level rating to Colgate-Palmolive Co.'s proposed senior unsecured euro notes.

All of the existing ratings on Colgate-Palmolive, including the AA- issuer credit rating, remain unchanged.

“Our ratings on Colgate reflect its high brand equity and solid market positions, particularly in oral care. We believe the inherently stable demand characteristics of the company's oral, personal, and home care products, combined with its product development expertise, should enable it to maintain modest long-term revenue growth,” S&P said in a news release.

“Our ratings also incorporate Colgate's solid and predictable free cash flow and our expectation that it will maintain strong credit metrics, including leverage in the mid-to-high 1x area,” S&P said.

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