Moody’s rates Colgate-Palmolive notes Aa3

Moody's Investors Service said it assigned Aa3 ratings to Colgate-Palmolive Co.'s proposed €1 billion senior unsecured notes in multiple maturities.

Net proceeds from the issuance will be used for general corporate purposes and to refinance existing debt.

The outlook is stable.

“Colgate's credit profile reflects the company's strong global market positions in multiple consumer product categories supported by well-known brands and global distribution,” the agency said in a news release.

“Colgate's large scale, relatively predictable cash flow and leading global market position in oral care are key credit strengths.

“Key credit risks include Colgate's high concentration in mature categories, as well as currency and commodity cost volatilities.”

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