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Prospect News home > News index > List of issuers C > Headlines for Conagra Brands Inc. > News item |
S&P gives Conagra notes BBB-
S&P said it assigned its BBB- rating to Conagra Brands Inc.’s proposed senior unsecured notes with the final amount and maturity to be determined.
The proceeds, in combination with borrowings under Conagra’s term loan facility and, or commercial paper program and cash on hand will be used to fund the repayment of the $500 million floating-rate notes due in October and redeem $1.2 billion of 3.8% senior unsecured notes due in October 2021. S&P said it views the transaction as leverage neutral.
The agency said all of S&P’s ratings on Conagra, including the BBB- issuer credit rating, are unchanged.
The outlook is stable.
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