Moody's rates Mars notes A1

Moody's Investors Service said it assigned a first-time A1 rating to Mars, Inc.'s new 144A senior unsecured private placement issued in multiple tranches.

The proceeds will be used for general corporate purposes, including the refinancing of existing debt.

The outlook is stable.

The ratings reflect the company's very strong credit profile with more than $37 billion of sales across a diversified global portfolio that includes global confectionery, pet food, pet health care and other food businesses, Moody's said.

The ratings also consider leading positions in its major categories with a No. 1 position globally in each of gum, confectionery, chocolate confectionery and pet food, the agency said.

While the pet services industry is highly fragmented, Mars is the leading veterinary services company in the United States and is a consolidator in the space, Moody's said.

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