Fitch: Kimberly-Clark notes A

Fitch Ratings said it expects to assign an A rating to Kimberly-Clark Corp.'s $250 million 3.875% 10-year note due 2021 and $450 million 5.3% 30-year note due 2041.

The proceeds will be used to partially fund $1.5 billion in share repurchases and for other general corporate purposes.

The outlook is stable.

These notes, issued under the global indenture dated March 1, 1988, contain added protection for bondholders in the form of a repurchase upon a change of control triggering event, Fitch said.

While debt balances will clearly increase, the company's pro forma leverage is expected to remain within expectation of 1.7x to 2x, the agency said.

The company has the financial flexibility to manage its credit protection measures prudently, Fitch added.

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