S&P rates Conagra notes BBB-

S&P said it assigned a BBB- issue-level rating to Conagra Brands Inc.'s planned senior unsecured notes with the final amount and maturity to be determined.

“We believe this will be a leverage-neutral transaction because we expect the company will use the net proceeds from the offering to repay its $500 million 0.5% senior notes due August 2023,” the agency said in a press release.

Conagra’s other ratings are unchanged, including the BBB- issuer credit rating and stable outlook, S&P said.

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