S&P rates Kellogg notes BBB+

Standard & Poor's said it assigned its BBB+ senior unsecured debt rating to Kellogg Co.'s proposed approximately $1.5 billion multi-tranche senior unsecured notes.

The agency said the BBB+ corporate credit rating reflects Kellogg's strong business risk profile.

Key credit factors considered in assessing Kellogg's business risk profile include its well-recognized brands, leading market positions in the ready-to-eat cereal and snack food industries and product and geographic diversity, the agency said.

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