Kimberly-Clark Corp.'s Proposed Senior Unsecured Notes Rated 'A'

CHICAGO (S&P Global Ratings) Sept. 8, 2020--S&P Global Ratings today assigned its 'A' issue-level rating to Dallas-based Kimberly-Clark Corp.'s proposed senior unsecured notes due 2027. The company will draw the offering from its Rule 415 shelf registration statement filed on Feb. 7, 2019. We expect the company to use the net proceeds from this offering to partially fund its acquisition of Softex Indonesia. We estimate debt outstanding of about $8.2 billion, pro forma for the transaction. Our 'A' rating on Kimberly-Clark incorporates its solid market shares in North American tissue and global diapers, incontinence care, and feminine care; its portfolio of well-known brand names (most of which have high consumer brand equity); the nondiscretionary demand for most of the product

...September 8, 2020 CHICAGO (S&P Global Ratings) Sept. 8, 2020--S&P Global Ratings today assigned its 'A' issue-level rating to Dallas-based Kimberly-Clark Corp.'s proposed senior unsecured notes due 2027. The company will draw the offering from its Rule 415 shelf registration statement filed on Feb. 7, 2019. We expect the company to use the net proceeds from this offering to partially fund its acquisition of Softex Indonesia. We estimate debt outstanding of about $8.2 billion, pro forma for the transaction. Our 'A' rating on Kimberly-Clark incorporates its solid market shares in North American tissue and global diapers, incontinence care, and feminine care; its portfolio of well-known brand names (most of which have high consumer brand equity); the nondiscretionary demand for most of the product segments in which the company competes; and its good geographic diversity, solid profitability, and ongoing cost-saving initiatives. Kimberly-Clark had a strong financial performance in the first...

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