U.S.-based consumer products company Church&Dwight Co. Inc.'s operating performance and credit measures have improved. We are raising the rating on Church&Dwight to 'BBB-'. The outlook is stable, based on our expectation that the company will continue its positive operating momentum and maintain appropriate credit measures for its new rating category. On June 16, 2010, Standard&Poor's Ratings Services raised its corporate credit rating on Princeton, N.J.-based Church&Dwight Co. to 'BBB-' from 'BB+'. The outlook is stable. The company's issue-level ratings on its secured bank debt and subordinated notes remain 'BBB' and 'BB+', respectively. We withdrew the '1' recovery rating on the secured bank debt and the '3' recovery rating on the subordinated notes,
