3M Co.'s Proposed Medium-Term Notes Assigned 'AA-' Issue-Level Rating

NEW YORK (Standard&Poor's) Aug. 4, 2015--Standard&Poor's Ratings Services today assigned its 'AA-' issue-level rating on 3M Co.'s proposed 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 ratings on 3M reflects its "strong" business risk profile and "minimal" financial risk profile assessments, which result in an anchor of 'aa-'. The company has five operating segments aimed at different markets, which we believe provides it with some protection against cyclical downturns in any particular industry (a positive one-notch impact). Additionally, because we believe that 3M's credit measures are less predictable and that there is

...RELATED CRITERIA AND RESEARCH Related Criteria + Liquidity Descriptors For Global Corporate Issuers, Dec. 16, 2014 + Ratios And Adjustments, Nov. 19, 2013 + Key Credit Factors For The Capital Goods Industry, Nov. 19, 2013 + Corporate Methodology, Nov. 19, 2013 + Management And Governance Credit Factors For Corporate Entities And Insurers, Nov. 13, 2012 + 2008 Corporate Criteria: Rating Each Issue, April 15, 2008 RATINGS LIST 3M Co. Corporate Credit Rating ##-/Stable/A-1+ Ratings Assigned 3M Co. Proposed Medium-Term Notes ##- Complete ratings information is available to subscribers of RatingsDirect at www.globalcreditportal.com and at www.spcapitaliq.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com. Use the Ratings search box located in the left column....

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