S&P rates Campbell notes A

Standard & Poor's said it assigned an A rating to Campbell Soup Co.'s issue of $300 million senior unsecured notes due 2014.

The outlook is stable.

The company will use the proceeds to repay commercial paper borrowings and for other general corporate purposes.

The agency said the ratings on Campbell reflect its strong position in soups and sauces, premium cookies, crackers, juices and other product categories.

However, Campbell continues to face a challenging operating environment and slow growth in the sector, S&P added.

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