Moody’s assigns Baa2 to Kerry notes

Moody's Investors Service said it assigned a Baa2 long term backed senior unsecured rating to the planned senior notes to be issued by Kerry Group Financial Services and guaranteed by Kerry Group plc.

The Baa2 long term issuer rating of Kerry and the Baa2 backed senior unsecured ratings of Kerry Group Financial Services are unaffected by this rating action, Moody’s said.

The proceeds will be used for general corporate purposes, including the repayment of debt and funding acquisitions in the routine course of business.

The outlook is stable.

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