Fitch: Kraft unchanged

Fitch Ratings said it does not expect any ratings impact from the consent solicitation and offer to guarantee launched by Kraft Foods, Inc. for the Cadbury Schweppes US Finance LLC 5.125% guaranteed senior notes due 2013.

Fitch said it already anticipated that Kraft would assume Cadbury's debt.

The agency said it does not expect any change in the ratings if the required consents are not received and the Kraft guarantee is not provided.

The acquisition strengthens Kraft's platform in confectionery, Fitch said, and provides it with greater geographic reach, particularly in faster growing developing markets.

But there is significant integration risk in the near term as Kraft integrates operations and cultures, the agency added.

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