NEW YORK (Standard&Poor's CreditWire) Nov. 18, 1999--Standard&Poor's today affirmed its double-'A' long-term corporate credit and senior unsecured debt ratings, as well as its 'A-1'-plus short-term corporate credit and commercial paper ratings, for Kimberly-Clark Corp. The affirmation follows Kimberly-Clark's announcement that it has signed a definitive agreement to acquire Safeskin Corp. for about $700 million in stock and about $155 million in assumed debt and outstanding options. The outlook is stable. About $2.9 billion of total debt was outstanding as of Sept. 30, 1999. The affirmation reflects the expectation that this transaction will not have a material impact on the company's financial profile. Safeskin, which manufactures high-quality latex gloves, fits into Kimberly-Clark's existing health care products portfolio.
