S&P rates Campbell notes A

Standard & Poor's said it assigned an A rating to Campbell Soup Co.'s proposed issue of $300 million senior unsecured notes due 2019.

The outlook is stable.

Proceeds will be used to repay commercial paper borrowings and for other general corporate purposes.

Ratings reflect the company's strong position as well as a challenging commodity cost environment and slow growth in the sector, the agency said.

The agency said it expects Campbell to maintain a prudent financial policy and stable credit measures, including leverage close to 2x.

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