Moody's gives General Mills notes Baa1

Moody's Investors Service said it assigned Baa1 ratings to $1 billion of senior unsecured notes offered by General Mills, Inc.

The notes are being issued in three tranches: $250 million of three-year fixed-rate notes, $250 million of three-year floating-rate notes and $500 million of 30-year fixed rate bonds.

The outlook remains positive.

Moody's said the Baa1 rating and positive outlook reflect the company's diverse portfolio of strong brands including Big G cereals, Pillsbury, Nature Valley, Progresso and Yoplait. The rating also reflects the company's leading market positions in nearly all of its key retail categories and solid operating margins in the mid-teens.

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