S&P rates Estee Lauder notes A

Standard & Poor's said it assigned its A senior unsecured debt ratings to Estee Lauder Cos. Inc.'s newly issued $250 million 10-year senior unsecured notes and $250 million 30-year senior unsecured notes. The new issuances will be drawn from the company's shelf registration program.

The agency said it expects credit protection measures to remain relatively stable for the next year, including leverage near 1.5x.

S&P said the ratings on Estee Lauder reflect its view that the company continues to have a strong business profile based on its stable market position, diversified portfolio of brands and good margins.

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