Fitch rates Kellogg notes BBB+

Fitch Ratings said it assigned a BBB+ rating to Kellogg Co.’s €600 million 1.25% senior unsecured notes due March 10, 2025.

The outlook is negative.

Net proceeds will be used for general corporate purposes.

The notes rank pari passu with Kellogg's other unsecured debt and contain a change of control repurchase event provision at 101. The notes are issued under the company's indenture dated May 21, 2009, which contains standard investment-grade limitations on liens, sale-leasebacks, mergers, etc. but does not contain financial covenants.

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