Moody's Investors Service has plans to reassign Kraft Food Inc. with a new "Baa2" rating with the senior unsecured notes being presented to supplement funding its $19.5 billion acquisition of Cadbury PLC.
Kraft's debt rating outlook is negative following the approval of
Cadbury shareholders approved Kraft's acquisition of the British candy maker on Tuesday.
The new notes will be issued in four-parts: long three-year, six-year, and ten-year notes, in addition to 30-year bonds. The net total is not official but anticipated by Moody's to be in the ballpark of $5 billion and 10 billion to aid in the payment of $11 billion in cash portion
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