S&P rates Procter & Gamble notes AA-

Standard & Poor's said it assigned its AA- senior unsecured debt rating to Procter & Gamble Co.'s $1 billion floating-rate senior unsecured notes due February 2014 and its €1 billion 2% senior unsecured notes due 2022.

S&P said it believes credit protection measures will remain fairly steady in fiscal 2013, including lease- and pension-adjusted leverage in the 2x area and the ratio of funds from operations to total debt at or close to 40%.

The agency said the ratings on Proctor & Gamble reflect its belief 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.

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