Fitch affirms Kimberly-Clark

Fitch Ratings said it affirmed Kimberly-Clark Corp.'s long-term issuer default rating at A, short-term issuer default rating at F1, commercial paper program at F1, $1.33 billion revolving credit facility at A and senior unsecured notes and debentures at A.

The agency also said it affirmed Kimberly-Clark Worldwide, Inc.'s commercial paper program rating at F1. The commercial paper is fully guaranteed by Kimberly-Clark.

The outlook is stable.

The ratings reflect the company's strong liquidity supported by its ability to consistently generate at least $2.1 billion in operating cash flow in each of the past 11 years, significant scale with over $19 billion in revenues, and leading market shares in a relatively non-cyclical consumer products industry, Fitch said.

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