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S&P: Hillshire on negative watch, Pinnacle Foods positive
Standard & Poor's said it placed its ratings, including its BBB corporate credit rating, on the Hillshire Brands Co. on CreditWatch with negative implications.
At the same time, S&P placed its ratings, including its B+ corporate credit rating, on Pinnacle Foods Inc. on CreditWatch with positive implications.
The rating actions follow Hillshire Brands' announcement that it will be acquiring Pinnacle Foods for about $6.6 billion.
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