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Moody's Investors Service, Inc. ("Moody's") today confirmed Campbell Soup Company's ("Campbell") senior unsecured debt rating at Baa2 and its commercial paper rating at Prime-2. The ratings outlook is negative. The review was prompted by an unexpectedly sharp decline in profitability in Campbell's fiscal third quarter and the sudden resignation of the company's Chief Executive Officer.
Approximately $10 billion of debt instruments affected. New York, May 21, 2018 -- Moody's Investors Service, Inc. ("Moody's") today placed all the ratings of Campbell Soup Company ("Campbell") under review for downgrade. This includes the company's Baa2 senior unsecured debt rating and Prime-2 short-term rating.
Campbell Soup Co said on Thursday it would reorganize its businesses, giving newly-appointed Chief Operating Officer Luca Mignini more control over its main units, including soup, simple meals and shelf-stable beverages. The company also said Mignini would continue to head its global biscuits and snacks businesses under the newly-created position. Under Mignini, the biscuits and snacks unit, which makes Pepperidge Farm cookies and Arnott's biscuits, has recorded steady growth, accounting for nearly a third of the company's total sales.
NEW YORK , March 21, 2018 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600: S&P SmallCap 600 constituent Evercore Inc. (NYSE: EVR) will replace ...