CHICAGO (Standard&Poor's) Oct. 28, 2014--Standard&Poor's Ratings Services said today that it assigned its preliminary 'AA-' rating to New York City-based Colgate-Palmolive Co.'s shelf registration statement dated Oct. 24, 2014. We also assigned our 'AA-' rating to the company's $134.3 million floating rate series H medium term notes due 2054, which were drawn under the shelf. We expect the company to use net proceeds from the note issuance for general corporate purposes, including the retirement of commercial paper. The 'AA-/A-1+' corporate credit ratings on Colgate-Palmolive remain unchanged, as does the stable outlook. The company had approximately $6.1 billion of reported debt outstanding as of Sept 30, 2014. The ratings on Colgate-Palmolive reflect its solid position as the
