We anticipate U.S. household, personal care, and specialty product manufacturer Church&Dwight's good operating performance will persist over the next 12 to 24 months. This should further improve the group's existing financial flexibility for midsize debt-financed acquisitions. We are revising our outlook to positive from stable and affirming our 'BBB' long-term and 'A-2' short-term ratings on Church&Dwight. The positive outlook reflects the possibility that we could raise the rating if the company maintains low-2x leverage despite merger&acquisition activity, based on the group's track record of a disciplined financial policy. On June 19, 2012, Standard&Poor's Ratings Services revised the outlook on Princeton, N.J.-based Church&Dwight Co. Inc. (CHD) to positive from stable. We
