COSMAIR U.S. RATED PRIME-1
NEW YORK — Moody’s Investor Service said Monday it confirmed the Prime-1 rating of Cosmair’s U.S. commercial paper program, following the increase in the program from $300 million to $600 million.
Moody’s said the rating is based on the unconditional guarantee of Cosmair parent L’Oreal.
“This rating reflects L’Oreal’s leadership in the global cosmetics industry, its ability to effectively meet the challenges of the increasingly competitive marketplace, its solid financial structure, and Moody’s expectation that future acquisitions will continue to be financed conservatively,” the agency said. Moody’s also said it confirmed the rating because the borrowings under the program are backed by adequate sources of alternate liquidity.