NEW YORK (S&P Global Ratings) May 23, 2016--S&P Global Ratings today assigned its 'AA-' issue-level ratings to 3M Co.'s proposed €1 billion medium-term notes, which will be issued with varying maturities. The company will use the proceeds from these notes for general corporate purposes. All of our other ratings on 3M remain unchanged. Our strong assessment of 3M's business risk profile and our modest assessment of its financial risk profile results 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 segments aimed at different markets, we believe that the company has a moderate
