S&P assigns Church & Dwight notes BBB+

S&P said it assigned its BBB+ issue-level rating to Church & Dwight Co. Inc.'s planned $500 million of senior unsecured notes with the final maturity to be determined.

“All of our ratings on the company, including our BBB+ issuer credit rating, are unchanged,” the agency said in a press release.

The company is expected to use the proceeds to repay all or a portion of its $300 million outstanding of 2.45% senior notes due Aug. 1, and all or a portion of its $400 million of 2.875% senior notes due Oct. 1. “Therefore, we anticipate it will be a leverage neutral transaction,” S&P said.

The outlook is stable.

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