We anticipate that U.S. personal care and household manufacturer Church&Dwight's operating performance will remain solid, and that profitability will remain at least at current levels over the next 12 to 24 months. We expect the company to continue to generate strong and steady cash flow during this period, even if economic conditions weaken. We are raising our long-term corporate credit and senior unsecured issue ratings on the company to 'BBB+' from 'BBB', and affirming the company's 'A-2' short-term ratings. The stable outlook reflects our view that the company has very good financial flexibility and will likely maintain strong credit measures over the next one to two years, despite our expectation that it will pursue midsize and/or potential bolt-on
