S&P rates 3M MTNs AA-

S&P said it assigned its AA- issue-level ratings to 3M Co.’s proposed €1 billion medium-term notes, which will be issued with varying maturities. The company will use the proceeds from these notes for general corporate purposes.

All of S&P other ratings on 3M remain unchanged.

“Our strong assessment of 3M’s business risk profile and our modest assessment of its financial risk profile results in two possible anchors: a+ and a. We choose to assign the a+ anchor to 3M given that its business risk profile is stronger than many of its comparably rated peers,” S&P said in a news release.

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