Moody's rates Kenvue notes A1

Moody's Investors Service said it assigned an A1 rating to Kenvue Inc.'s first-time senior unsecured long-term notes issuance in multiple tranches.

“Kenvue's A1/Prime-1 ratings reflect the meaningful scale, good product and geographic diversification, excellent liquidity, moderate leverage, and high-quality brand and product portfolio that Kenvue will own after its separation from J&J. Well-established brands include, but are not limited to, Band-Aid, Listerine, Tylenol, Motrin, Aveeno, Neutrogena, OGX, Nicorette, and Johnson's, which provide a firm revenue and profitability platform from which Kenvue can grow and maintain market share,” the agency said in a press release.

The proceeds will be used to pay Johnson & Johnson as partial consideration for J&J's consumer health business that it will transfer to Kenvue as part of the planned separation.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.