...February 27, 2023 CHICAGO (S&P Global Ratings) Feb. 27, 2023--S&P Global Ratings today assigned its '##-' issue-level rating to New York City-based Colgate-Palmolive Co.'s proposed senior unsecured notes (final amounts and maturities to be determined). The company intends to use the net proceeds for general corporate purposes, including the retirement of commercial paper. The notes will rank pari passu with Colgate-Palmolive's other senior unsecured debt. The company had approximately $8.8 billion of debt outstanding as of Dec. 31, 2022. All our existing ratings on Colgate-Palmolive, including our '##-' issuer credit rating, are unchanged. The outlook is stable. Colgate-Palmolive's fourth quarter results were below our expectations as pricing elasticities and retailer destocking negatively impacted volumes, as well as higher raw material and packaging costs which drove down gross profit margin percentage by 250 basis points. However, the company continues to regain market share in its core...
