Fitch affirms Kimberly-Clark

Fitch Ratings said it affirmed Kimberly-Clark Corp.'s long-term issuer default rating at A, short-term issuer default rating at F1, commercial paper program at F1, $1.33 billion revolving credit facility at A and senior unsecured notes and debentures at A. Fitch also said it affirmed Kimberly-Clark Worldwide, Inc.'s commercial paper program rating at F1.

The outlook is stable.

The ratings reflect the company's strong liquidity supported by its ability to consistently generate at least $2.3 billion in operating cash flow in each of the past seven years, significant scale with almost $19 billion in revenues and leading market shares in a relatively non-cyclical industry, Fitch said.

The stable outlook remains as the pressure on revenues and margins has abated, the agency said.

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