S&P rates Kraft notes BBB+

Standard & Poor's said it assigned its BBB+ rating to Kraft Foods Inc.'s $500 million senior 6.75% unsecured note debt offering due Feb. 19, 2014.

Kraft will use the proceeds from this debt issuance for general corporate purposes, including repayment of outstanding commercial paper borrowings, the agency said.

According to S&P, the ratings on Kraft reflect the company's position as one of the world's largest food and beverage companies, with a broad portfolio of well-known brands and geographic diversity.

However, a more aggressive financial policy has led to higher debt levels and weaker credit measures, the agency noted.

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