Moody's could cut Campbell

Moody's Investors Service said it placed the A2 long-term senior unsecured rating and the Prime-1 short-term rating of Campbell Soup Co. under review for downgrade.

This follows the company's announcement that it entered into an agreement to acquire Wm. Bolthouse Farms, Inc. for $1.55 billion in cash.

Moody's said the review for downgrade mainly reflects the increased leverage that will result from the proposed transaction and the unresolved operating challenges in Campbell's core U.S. retail soup segment in recent years.

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