Moody’s affirms Colgate

Moody's Investors Service said it affirmed Colgate-Palmolive Co.'s ratings, including the Aa3 senior unsecured rating and the Prime-1 commercial paper rating.

The agency said the action follows the company's announcement last week that it has entered into an agreement to acquire Laboratoires Filorga Cosmetiques for an equity purchase price of €1.495 billion.

The acquisition is expected to be largely debt financed.

The outlook is stable.

The agency said the affirmation reflects a view that the acquisition of Filorga will modestly enhance Colgate's scale and growth potential and further diversify its personal care segment.

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