S&P assigns Hershey notes A

Standard & Poor's said it assigned its A senior unsecured rating to the $250 million senior unsecured notes due 2013 offered by Hershey Co. (A/negative/A-1).

Proceeds from this debt issuance will be used to repay a portion of commercial paper, the agency said, adding that the ratings on Hershey reflect its leading market position in the U.S. chocolate and confectionary market and its strong cash-generating ability.

A relatively narrow business and geographic focus partially offsets these strengths, S&P noted.

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