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S&P affirms Moy Park, debt
S&P said it affirmed its B+ long-term corporate credit rating on Moy Park Holdings Europe and removed the rating from CreditWatch with negative implications, where it was placed on June 16.
The outlook is negative.
The agency also affirmed the B+ issue rating on the senior unsecured debt issued by Moy Park (Bondco) plc and removed the rating from CreditWatch negative.
S&P said the actions follow the recent announcement made by Pilgrim's Pride Corp. that it agreed to acquire Moy Park for £1 billion, including the assumption of Moy Park's net debt.
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