S&P rates Kraft Heinz notes BBB

S&P said it assigned its BBB rating to the Kraft Heinz Co.'s proposed senior unsecured notes.

The company will use the net proceeds from the leverage-neutral offering for general corporate purposes, including the repayment of approximately $2.7 billion U.S. dollar-equivalent note maturities due this summer, amounts outstanding under the U.S. securitization program that is being wound down, and a portion of commercial paper borrowings.

The proposed notes will be issued by the group's primary operating subsidiary, Kraft Heinz Foods Co., and guaranteed by parent the Kraft Heinz Co.

All of the existing ratings on the company, including the BBB corporate credit rating, are unchanged. The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.