Fitch rates General Mills notes BBB+

Fitch Ratings said it assigned a BBB+ rating to General Mills, Inc.'s $1 billion in senior unsecured notes, including a $250 million three year floating-rate note, a $250 million three-year note and a $500 million 30-year note.

Fitch said the ratings and stable outlook incorporate the company's strong profitability, substantial internally generated liquidity and leading market positions in key categories.

The company has important and defensible brand equity in major product categories such as cereal, yogurt, ready-to-serve soup and snacks. General Mills' margins are among the top tier in the sector, which provides ample financial flexibility, the agency said.

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