Moody’s gives Kraft Heinz notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to Kraft Heinz Foods Co.'s planned five-year backed senior unsecured euro-denominated notes. The parent Kraft Heinz Co. will guarantee the notes.

The company’s other ratings, including the Baa2 senior unsecured rating, are unchanged, Moody’s said.

The proceeds are expected to be used for general corporate purposes including debt repayment.

“The debt issuance is credit positive because it terms out existing indebtedness and improves liquidity without materially increasing interest costs,” the agency said in a press release.

The outlook for Kraft Heinz is stable.

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