S&P gives A to Kimberly-Clark notes

Standard & Poor’s said it assigned its A debt rating to Kimberly-Clark Corp.’s proposed debt issuance, which S&P expects will total up to $550 million and consist of a mix of five-year and 10-year fixed-rate senior unsecured notes.

All of the existing ratings on the company, including the A long-term and A-1 short-term corporate credit ratings, remain unchanged. The outlook is stable.

S&P said the ratings on Kimberly-Clark reflect its solid market shares in North American tissue and global diapers, incontinence care, and feminine care; its portfolio of well-known brand names; the nondiscretionary demand for most of the product segments in which the company competes; its good geographic diversification; and solid profitability with historically low volatility.

It also reflects the solid competition Kimberly-Clark faces from global competitors, including Procter & Gamble Co. and Georgia-Pacific LLC, among others, the agency said.

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