...NEW YORK (Standard & Poor's) Nov. 5, 2014--Standard & Poor's Ratings Services today assigned its '##-' issue-level rating to 3M Co.'s 500 million four-year floating rate medium-term notes due 2018 and 750 million 12-year medium-term notes due 2026. It will use proceeds for general corporate purposes, including repayment of commercial paper. Our '##-' corporate credit rating, 'A-1+' short-term rating, and stable outlook on 3M Co., as well as ratings on its existing debt, all remain unchanged by the proposed transaction. Our ratings on 3M reflect its "strong" business risk profile and "minimal" financial risk profile. 3M is a broadly diversified global company and a primary manufacturer that caters to diverse industries and end markets. Its emphasis is on consumable products that generate strong and consistent cash flow and provide strength and stability through economic cycles. Above average profitability and very low volatility aid the company's competitive position. Leverage is low, with...
