Fitch rates Tyson loan BBB

Fitch Ratings said it affirmed Tyson Foods, Inc.’s long-term issuer default rating at BBB, unsecured term loans at BBB, senior unsecured notes at BBB and short-term issuer default rating at F2.

Fitch also said it assigned a BBB rating to Tyson’s new five-year $1.25 billion senior unsecured revolving credit facility.

The outlook is stable.

Tyson’s new revolving credit facility, which replaces the company’s previous $1 billion revolver, matures Sept. 25, 2019 and can be upsized by $500 million, Fitch said.

The facility is guaranteed by wholly-owned subsidiary Tyson Fresh Meats until Tyson Fresh Meats no longer guarantees Tyson’s 2016 notes, the agency said.

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