S&P gives Procter & Gamble notes AA-

Standard & Poor's said it assigned its AA- debt rating to Procter & Gamble Co.'s $1 billion 3.1% senior unsecured notes due August 2023. Procter & Gamble issued the notes under the company's most recent Rule 415 shelf registration.

S&P said the ratings on Procter & Gamble reflect its belief the company will continue to maintain an "excellent" business profile, based on its broad geographic and product diversity, strong global market positions and diversified brand portfolio.

The company's "modest" financial profile reflects the expectation that it will continue to generate robust cash flow while maintaining strong liquidity and a moderate financial policy. Procter & Gamble had about $31.5 billion of reported debt outstanding as of June 30.

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