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Moody's may lift Ahold
Moody's Investors Service said it placed the Ba1 corporate family rating and the Ba1 senior unsecured long-term rating of Koninklijke Ahold NV on review for possible upgrade.
The action follows the company's recent announcement that it has agreed to the disposal of its U.S. foodservice business to private equity funds for $ 7.1 billion, the agency said.
Moody's said it expects the company's operating margins to show an improvement following the exit from the lower-margin foodservice business and for leverage to fall further in FY2007, assuming the expected debt pay-down.
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