Moody’s rates Kraft’s debt at Baa3

Moody’s assigned a credit rating of Baa3 to a total of USD 5bn senior unsecured notes offered by Kraft Heinz Foods Company.

The bonds were issued in separate 10-year and 30-year tranches.

Proceeds from the offerings would be used primarily to call a portion of the company’s $8 billion 9% preferred stock, callable 6 June, 2016. The rating outlook is stable

Source: Moody’s Rating Report

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