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S&P assigns AA- to Nestle notes
S&P said it assigned AA- issue ratings to Nestle Capital Corp.’s $2.5 billion of unsecured notes and will be guaranteed by parent Nestle SA.
“The rating is in line with the long-term issuer credit rating on Nestle S.A. (AA-/stable/A-1+),” S&P said in a press release.
The notes consist of four tranches: $600 million of 4.65% fixed-rate notes due 2029, $450 million of 4.75% fixed-rate notes due 2031, $800 million of 4.875% fixed-rate notes due 2034 and $650 million of 5.1% fixed-rate notes due 2054.
The proceeds will be used for general corporate purposes.
The outlook is stable.
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