Moody's rates General Mills notes A3

Moody's Investors Service said it assigned A3 ratings to $750 million of proposed senior notes being offered by General Mills, Inc. The outlook is stable.

The bonds will be issued in two tranches consisting of 10-year fixed-rate notes and two-year floating-rate notes, Moody's said.

The agency said the A3 rating reflects General Mills' diverse portfolio of strong brands, top-tier market share positions in its core food categories, strong operating margins, modest financial leverage and balanced financial policy.

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