USA: Fitch Changes Nabisco, Inc. Rating Watch To Positive
Fitch has changed Nabisco, Inc.'s (Nabisco) Rating Watch status from Evolving to Positive. The rating action follows Philip Morris Companies Inc. (MO) announcement that it has agreed to purchase 100% of Nabisco Holdings Corp. (NA) for $55 in cash per outstanding share for a total of $14.9 billion. In connection with the acquisition, MO will assume Nabisco's total $4.1 billion of gross debt. Fitch has affirmed MO's `A' long-term and `F1' short-term ratings. Nabisco, Inc.'s senior unsecured debt and bank credit facilities are rated `BBB'. The company's $2 billion commercial paper program is rated `F2'. Fitch is an international rating agency that provides global capital market investors with the highest quality ratings and research. Dual headquartered in New York and London with a major office in Chicago, Fitch rates entities in 75 countries and has some 1,100 employees in more than 40 local offices worldwide. The agency, which is a combination of Fitch IBCA and Duff & Phelps Credit Rating Co., provides ratings for Financial Institutions, Insurance, Corporates, Structured Finance, Sovereigns and Public Finance Markets worldwide.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 15 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Focus - Pernod's YTD Performance by Region
- just On Call - Pernod shifts Scotch focus in China
- Diet Coke "a work in progress" in US - Coca-Cola
- Heineken seeks "clarity" in Indonesia
- Focus - Heineken's Q1 Performance by Region
- CFO of Diageo's United Spirits stands down
- Pernod Ricard unveils new Absolut bottle
- Diageo's United Spirits calls on Mallya to quit
- Beam Suntory to strip down regional units
- Pernod Ricard sees YTD recover as sales increase
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- ALDI 2015: Radically transforming Anglo Saxon grocery markets