S&P upgrades Kraft Heinz

S&P said it raised its corporate credit rating on the Kraft Heinz Co. to BBB from BBB- and its commercial paper rating to A-2' from A-3'. The outlook is stable.

S&P also raised its ratings on all of the group's long-term senior debt to BBB from BBB-.

“Our rating upgrade is based on several factors, including: Our reassessment of the risk to creditors should Kraft Heinz make a large, potentially transformative acquisition, which we acknowledge is likely over the next year; Kraft Heinz's proven integration capabilities and our improved outlook for cash flow generation; and relative to peers, its operational expertise and scale,” S&P said in a news release.

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