Fitch rates Kimberly-Clark notes A

Fitch Ratings said it assigned an A rating to Kimberly-Clark Corp.’s new senior unsecured notes totaling $550 million.

The notes will be in five-year and 10-year tranches with amounts to be determined.

The outlook is stable.

Proceeds will be used to repay the $300 million 4.875% notes due Aug. 15 2015 and reduce the $892 million balance of commercial paper outstanding at June 30, 2015. Leverage at the latest 12 months was 1.9 times, and will remain within Fitch's expectations as this transaction should be relatively debt neutral.

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