DBRS Rates Kellogg’s $500 Million Senior Unsecured Notes Issue A (low)

DBRS has today assigned a rating of A (low) with a Stable trend to Kellogg Company’s (Kellogg or the Company) issue of $500 million 4.15% Senior Unsecured Notes (Notes). The Notes will mature in November 2019 and rank pari passu with Kellogg’s other senior unsecured indebtedness. Proceeds from the Notes are expected to be used primarily toward debt repayment, with no impact on leverage. The debt issuance follows the Company’s announcement in October 2009 that it had commenced a cash tender offer for up to $500 million of its 6.60% Notes due 2011.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Consumer Products, which can be found on our website under Methodologies.

This is a Corporate rating.