S&P rates P&G notes AA-

Standard & Poor's said it assigned an AA- senior unsecured debt rating to Procter & Gamble Co.'s (AA-/stable/A-1+) $500 million senior unsecured floating-rate notes due November 2012 and $1 billion 1.8% senior unsecured notes due November 2015.

Proceeds will be used for general corporate purposes and for credit protection measures to remain stable through the remainder of fiscal 2011 ending June 30, including lease- and pension-adjusted leverage at or just below the 2x area.

Ratings reflect the company's excellent business profile, geographic and product diversity, leading global positions, strong brands, ample cash flow generation and modest financial profile, S&P said

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