S&P rates Kimberly-Clark notes A

Standard & Poor's said it assigned an A senior unsecured debt rating to Kimberly-Clark Corp.'s (A/stable/A-1) $250 million 3.625% note offering due in August 2020.

Proceeds will be used to refinance $450 million of notes maturing on July 30, 2010.

S&P said it expects credit protection measures to remain stable through the remainder of the year, including leverage at, or just below, the 2x area.

Ratings reflect the company's strong business profile, solid cash flow generation and expectation that the company will maintain a modest financial risk profile, the agency said.

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