Our 'AA-' corporate credit rating on St. Paul, Minn.-based 3M Co. is derived from: Our anchor of 'aa-', based on our "strong" business risk and "minimal" financial risk profile assessments for the company. Our analysis included a positive one-notch modifier for diversification, reflecting the company's broad reach of moderately correlated products and markets. In addition, we incorporated a negative one-notch financial policy modifier. Given the company's change in financial policy, we have a lower level of predictability in credit metrics, and event risk may depress our projected ratios further. These offsetting adjustments had no effect on the final rating result. Broadly diversified global company that caters to diverse industries and markets with over 60,000 products; and Track record of innovation
