Moody’s gives Clorox bonds Baa1

Moody's Investors Service said it assigned Baa1 ratings to the Clorox Co.'s upcoming offering of $1.1 billion of senior unsecured notes in seven- and 10-year tranches.

Moody’s affirmed Clorox’s Baa1 ratings on Feb. 14.

Proceeds will be used for general corporate purposes including the refinancing of near-term maturities.

“The offering is credit positive because the refinancing will extend Clorox's maturity profile without materially affecting cash interest costs. Clorox has $600 million of notes due September 2022 and $500 million of notes due December 2024,” the agency said in a press release.

The outlook is stable.

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