Ecolab Inc.'s $2 Billion Commercial Paper Program Assigned 'A-2' Rating

NEW YORK (Standard&Poor's) Dec. 3, 2014--Standard&Poor's Ratings Services today assigned its 'A-2' short-term issue rating to St. Paul, Minn.-based Ecolab Inc.'s $2 billion U.S. commercial paper (CP) program due 2019. Ecolab is proposing to upsize its existing unrated credit facility by $500 million to $2 billion and extend the maturity by three years to December 2019. In conjunction with the proposed amendment, the maximum CP amount Ecolab may issue under its U.S. CP program will increase to $2 billion from $1.5 billion. Ecolab intends to use its credit facility primarily to backstop its CP program. The company had roughly $6.8 billion of reported debt outstanding as of Sept. 30, 2014. The ratings on Ecolab, including the

...NEW YORK (Standard & Poor's) Dec. 3, 2014--Standard & Poor's Ratings Services today assigned its 'A-2' short-term issue rating to St. Paul, Minn.-based Ecolab Inc.'s $2 billion U.S. commercial paper (CP) program due 2019. Ecolab is proposing to upsize its existing unrated credit facility by $500 million to $2 billion and extend the maturity by three years to December 2019. In conjunction with the proposed amendment, the maximum CP amount Ecolab may issue under its U.S. CP program will increase to $2 billion from $1.5 billion. Ecolab intends to use its credit facility primarily to backstop its CP program. The company had roughly $6.8 billion of reported debt outstanding as of Sept. 30, 2014. The ratings on Ecolab, including the '###+' corporate credit rating, and positive rating outlook remain unchanged. Our "strong" business risk profile assessment reflects the company's favorable competitive position as a global leader with a diverse range of applications in a service-oriented specialty...

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