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Moody's could lift Ralcorp
Moody's Investors Service said it placed the Baa3 long-term senior unsecured rating of Ralcorp Holdings, Inc. under review for upgrade.
Moody's said the review follows the company's announcement that it agreed to be acquired by ConAgra Foods, Inc. for $90 per share or roughly $6.8 billion, including the assumption of debt.
Moody's rating review for upgrade reflects the possibility that the resulting combined company will have a stronger credit profile than Ralcorp does currently.
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