We expect U.S.-based Church&Dwight Co. Inc. to maintain satisfactory profitability despite the likelihood of additional acquisitions, probable slowing demand, and continued high commodity costs. We are raising our ratings on Church&Dwight, including our corporate credit rating, to 'BBB' from 'BBB-'. We are assigning our 'A-2' short-term and commercial paper ratings to Church&Dwight. The stable outlook reflects our expectation that the company's credit measures, which are currently strong, will weaken over time, but will remain at least consistent with 'BBB' rating category medians. On Oct. 5, 2011, Standard&Poor's Ratings Services raised its ratings on Princeton, N.J.-based Church&Dwight Co. Inc., including its long-term corporate credit rating to 'BBB' from 'BBB-'. We also
