NEW YORK (Standard&Poor's CreditWire) May 18, 1999--Standard&Poor's today affirmed its investment-grade ratings for Kimberly-Clark Corp. and units (see list below) following the company's announcement that it has agreed to acquire two tissue businesses from Switzerland's Attisholz Holding AG for $380 million. The outlook remains stable. Kimberly-Clark Corp. reported total debt of approximately $2.97 billion at March 31, 1999. The acquisition will initially be financed primarily through the issuance of commercial paper. However, the company intends to reduce a portion of commercial paper borrowings over time through proceeds from the sale of its Southeast Timberlands and related operations, which are actively being marketed. With this acquisition, Kimberly-Clark seeks to enhance its position in Europe by nearly tripling
