Foodcorp's ratings confirmed by Moody's

Moody's Investors Service on Tuesday (13 August) confirmed Foodcorp's B2 Corporate Family Rating (CFR) and B2-PD Probability of Default Rating‚ as well as the B2/LGD3 senior secured bond ratings of Foodcorp.

14 Aug 2013

This follows confirmation by management that after Rainbow Chicken's purchase of an 88.1% shareholding in the company‚ the current capital structure‚ senior management and financial policies will remain in place for at least the next 12 months.

The ratings outlook is stable.

The ratings review was initiated in May and about US$519m of Debt Securities are affected.

Source: I-Net Bridge

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