Moody's gives Campbell Soup notes Baa2

Moody's Ratings said it assigned Baa2 ratings to senior unsecured notes being offered today in four tranches by Campbell Soup Co.

The company’s other ratings remain unchanged including the Baa2 senior unsecured, the agency said.

“The debt issuance is credit neutral with the use of proceeds earmarked for general corporate purposes including to term out borrowings associated with the Sovos Brands acquisition that was funded originally with a delayed-draw term loan and commercial paper borrowings,” Moody’s said in a press release.

The outlook is stable.

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