Fitch rates Clorox notes BBB+

Fitch Ratings said it has assigned a BBB+ rating to the Clorox Co.'s $500 million of 10-year senior unsecured notes to be issued.

Proceeds will be used mainly to repay all or a portion of the outstanding $575 million of 5% notes due in January 2015, the agency said.

The agency noted the company’s consistent performance as Clorox's focused strategy of having branded products with large or leading market shares in midsized categories results in a very stable operating performance.

EBITDA has shown little variance at about $1.1 billion to $1.3 billion and is likely to remain in historical ranges, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.