Moody’s: Church & Dwight notes Baa1

Moody's Investors Service said it assigned Baa1 ratings to Church & Dwight Co., Inc.'s $1,425,000,000 senior unsecured notes issuance to be offered in three maturity tranches.

Net proceeds will be used to fund the Waterpik, Inc. acquisition and for general corporate purposes including refinancing outstanding commercial paper.

All other ratings are unchanged.

The outlook remains stable.

Moody’s said the Baa1 senior unsecured and Prime-2 short-term ratings reflect Church & Dwight’s stable operating performance and cash flow supported by good reinvestment flexibility in and broad distribution of its branded portfolio of premium and value-oriented consumer products.

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