Moody’s assigns Reckitt Benckiser notes A3

Moody’s Investors Service said it assigned A3 ratings to Reckitt Benckiser Group plc’s new senior unsecured notes.

The company will use the proceeds for general corporate finance purposes. “Moody’s believes this could include reducing the amount of outstanding commercial paper,” the agency said in a press release.

The company plans to issue across three tranches and maturities between six and 12 years. The new notes will be issued by fully-owned financial subsidiaries of the group Reckitt Benckiser Treasury Services (Nederland) BV and Reckitt Benckiser Treasury Services plc and guaranteed by Reckitt Benckiser Group.

“The company’s current A3 long term issuer rating and negative outlook are unaffected by the planned issuance of these notes,” Moody’s said.

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