Moody’s revises Windsor view to developing

Moody's Investors Service said it affirmed the ratings of Windsor Quality Food Co. Ltd. and revised the outlook to developing from positive after Ajinomoto Co. Inc., a Tokyo-based seasoning and food company, announced that it entered into an agreement to acquire Windsor's frozen foods business for $800 million.

Ratings affirmed include the B1 corporate family rating, B1-PD probability of default rating and B2 instrument rating on the company's $350 million senior secured term loan. The companies expect the transaction to close by November 2014.

Upon closing, Windsor will retire all of its debt – principally, the $350 million senior secured term loan B – and all of its ratings will be withdrawn.

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