S&P rates 3M notes AA-

S&P said it assigned an AA- rating to 3M Co.'s proposed $2 billion medium-term notes, which the company will issue in various tranches.

The proceeds will be used for general corporate purposes, which could include the payment of its $625 million medium-term notes due June 2019 and borrowings under its commercial-paper program, S&P said.

All of the other ratings on 3M are unchanged.

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