Moody’s gives Mondelez International stable view

Moody’s Investors Service said it assigned a stable outlook to Mondelez International Holdings Netherlands BV. The outlook matches that of Mondelez International, Inc.’s outlook.

Moody’s also affirmed Mondelez’s domestic and foreign ratings, including its Baa1 senior unsecured rating, which is lower than that of the Netherlands-based subsidiary’s unsecured rating.

“MIHN’s A3 senior unsecured rating is additionally supported by the structurally senior claim on approximately 75% of the company’s revenue and assets relative to the debt at Mondelez. MIHN’s term loans and notes represent roughly 25% of consolidated total debt and are guaranteed by Mondelez International, Inc., but there is no upstream guarantee of Mondelez’s debt from MIHN,” the agency said in a press release.

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