3M Co.'s Proposed $1.50 Billion Medium-Term Notes Rated 'AA-' - S&P Global Ratings’ Credit Research

3M Co.'s Proposed $1.50 Billion Medium-Term Notes Rated 'AA-'

3M Co.'s Proposed $1.50 Billion Medium-Term Notes Rated 'AA-' - S&P Global Ratings’ Credit Research
3M Co.'s Proposed $1.50 Billion Medium-Term Notes Rated 'AA-'
Published Sep 14, 2016
Published Sep 14, 2016
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About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Sept. 14, 2016--S&P Global Ratings today assigned its 'AA-' issue-level rating to 3M Co.'s proposed $1.50 billion medium-term notes, which the company will issue with varying maturities. The company will use the proceeds from these notes for general corporate purposes, including to repay its $1 billion medium-term notes due Sept. 29, 2016. All of our other ratings on 3M are unchanged. Our strong assessment of 3M's business risk profile and our modest assessment of its financial risk profile result in two possible anchors: 'a+' and 'a'. We choose to assign the 'a+' anchor to 3M given that its business risk profile is stronger than many of its comparably rated peers. Since 3M has five operating

  
Report Type:

Ratings Action

Ticker
MMM
Issuer
3M Co.
GICS
Industrial Conglomerates (20105010)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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MLA:
S&P Global Ratings’ Credit Research. "3M Co.'s Proposed $1.50 Billion Medium-Term Notes Rated 'AA-'" Sep 14, 2016. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/3M-Co-s-Proposed-1-50-Billion-Medium-Term-Notes-Rated-AA-1710274>
  
APA:
S&P Global Ratings’ Credit Research. (). 3M Co.'s Proposed $1.50 Billion Medium-Term Notes Rated 'AA-' Sep 14, 2016. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/3M-Co-s-Proposed-1-50-Billion-Medium-Term-Notes-Rated-AA-1710274>
  
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