Moody’s rates Procter & Gamble notes Aa3

Moody's Investors Service said it assigned a Aa3 rating to Procter & Gamble Co.’s recently issued $1.65 billion senior unsecured notes due 2021 and 2026.

The notes were issued in one five-year and one 10-year tranche.

Net proceeds will primarily be used to fund the previously announced tender offer of a number of the company's maturities for $1.25 billion set to expire on Nov. 14, 2016. Proceeds will also be used for general corporate purposes.

The outlook is stable.

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