Moody’s rates Kraft Heinz notes Baa3

Moody's Investors Service said it assigned Baa3 ratings to proposed senior unsecured notes being offered by Kraft Heinz Foods Co.

The outlook is stable.

Kraft Heinz is offering floating-rate notes in three trances. Moody's expects the aggregate size of the offering to be in the range of $1 billion to $2 billion.

Net proceeds will be used for general corporate purposes, including to repay the company’s $600 million senior unsecured term loan due 2022 and commercial paper outstanding that totaled $1.1 billion at the end of the fiscal second quarter. Thus, the agency said it expects that the result of the offering will be leverage neutral.

© 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.