S&P assigns Procter & Gamble notes AA-

Standard & Poor's said it assigned an AA- senior unsecured debt rating to Procter & Gamble Co.'s $1 billion 2.3% senior unsecured notes due February 2022 and $1 billion floating-rate senior unsecured notes due February 2014.

The agency also said it assigned a preliminary AA- senior unsecured debt rating to the company's Rule 415 shelf registration under which these notes were issued.

The proceeds will be used for general corporate purposes, including the repayment of short-term borrowings, S&P said.

All of the company's existing ratings, including its AA- long-term and A-1+ short-term corporate credit ratings, remain unchanged.

The agency said it believes credit protection measures will remain stable in fiscal 2012.

The ratings reflect an expectation that the company will continue to have an excellent business profile based on its broad geographic and product diversity, strong global market positions and diversified brand portfolio, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.