Proctor & Gamble Co.’s Triple-A rated long-term...

Proctor & Gamble Co.’s Triple-A rated long-term debt was placed on Standard & Poor’s Corp. CreditWatch surveillance list with negative implications, the rating agency said. According to S&P;, more than $2.1 billion in debt is affected. S&P; said the action was prompted by a series of debt-financed acquisitions by the Cincinnati-based firm since 1985, culminating with the Aug. 4 $300-million to $400-million purchase of the Blendax-Group, a West German-based manufacturer of personal care products.