S&P rates Procter & Gamble notes AA-

S&P said it assigned an AA- rating to Procter & Gamble Co.'s proposed British pound denominated senior unsecured notes, which will be drawn from its shelf registration statement filed Oct. 24, 2014.

The company will use the proceeds for general corporate purposes, including shareholder distributions, S&P said.

The transaction will have an immaterial impact on the company's solid credit ratios, which include an adjusted debt-to-EBITDA ratio in the mid-1x range, the agency said.

All of the other ratings on the company, including the AA- long-term and A-1+ short-term corporate credit ratings, are unchanged.

The outlook is stable.

The ratings reflect the company's leading market position in multiple global household and personal care categories, S&P said.

This is highlighted by its attractive portfolio and substantial product diversity even after recent meaningful brand disposals, the agency said.

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