Bulletin: Unilever Ratings Unaffected By Creation Of New Top Holding Company

LONDON (S&P Global Ratings) March 15, 2018--S&P Global Ratings said today that its issuer credit ratings and issue ratings on Unilever PLC and Unilever N.V. (both rated A+/Stable/A-1) and related entities are unaffected by the group's announcement that it will create a new single top holding company. We understand that the new top holding company will be an additional guarantor for all existing and future senior debt instruments and programs. We also understand that all the current debt guarantors will remain in place, supporting the pari passu ranking of senior debt. For more information on the group's main business and financial strengths and weaknesses, see our full analysis, "Unilever," published July 21, 2017, on RatingsDirect.

...LONDON (S&P Global Ratings) March 15, 2018--S&P Global Ratings said today that its issuer credit ratings and issue ratings on Unilever PLC and Unilever N.V. (both rated A+/Stable/A-1) and related entities are unaffected by the group's announcement that it will create a new single top holding company. We understand that the new top holding company will be an additional guarantor for all existing and future senior debt instruments and programs. We also understand that all the current debt guarantors will remain in place, supporting the pari passu ranking of senior debt. For more information on the group's main business and financial strengths and weaknesses, see our full analysis, "Unilever," published July 21, 2017, on RatingsDirect. Only a rating committee may determine a rating action and this report does not constitute a rating action....

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