Moody’s assigns Baa1 to Clorox notes

Moody's Investors Service said it assigned a Baa1 rating to Clorox Co.’s $500 million of senior unsecured notes due 2028.

Net proceeds will be used to refinance upcoming maturities of existing debt.

The outlook is stable.

Moody’s said the Baa1 senior unsecured rating reflects the company's good market position in most of its product categories, strong brand name recognition and solid product innovation, all of which gives rise to steady operating earnings and cash flow.

The agency added that it also recognizes the company's commitment to maintaining a moderate leverage profile.

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