S&P rates S.C. Johnson notes A-

Standard & Poor's said it assigned an A- senior unsecured debt rating to S.C. Johnson & Son's $550 million of 4.8% senior notes due 2040.

The proceeds will be used for general corporate purposes, including replenishing liquidity following its pending acquisition of Sara Lee's insecticide business and repaying long-term debt maturities.

S&P said it expects the company to maintain the proceeds on the balance sheet over the interim.

While credit metrics may weaken during the next several quarters, the agency said it expects they will return to historical levels in the next 12 to 18 months.

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