S&P rates Procter & Gamble notes AA-

Standard & Poor's said it assigned its AA- senior unsecured debt rating to Procter & Gamble Co.'s planned €1 billion note offering due 2011 and its €1.1 billion note offering due 2017.

Proceeds are expected to be used for general corporate purposes, including share repurchases, the agency said.

According to S&P, Procter & Gamble's ratings reflect the company's excellent business profile, with geographic and product diversity and its modest financial profile.

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