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Tyson Amend a Billion Dollar Debt

16 September 2008

US - Fitch Ratings on Friday, upgraded Tyson Foods Inc rating, after the company amended its one billion in debt, to a credit agreement ensuring new guarantees.

According to information from the Argentine Beef Packers S. A., the new guarantees, mainly from the poultry and prepared foods divisions, pledge inventory and trade marks, owned by Tyson’s and its subsidiaries.

The sell off of shares and the issue of new bonds, raised close to one billion last week, after Moody’s had threatened to downgrade the companies credit rating.

The rating has gone from “BB” to “BBB” which is now a good credit rating, from a speculative rating.

TheCattleSite News Desk


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