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Moody's rates Dole Food notes B3
Moody's Investors Service said it assigned a B3 rating to the proposed new $325 million of third-lien bond to be issued by Dole Food Co., Inc.
Moody's said it affirmed Dole's existing ratings, including its corporate family rating of B3 and its probability of default rating of Caa1.
The outlook is negative.
Upon the successful conclusion of the transaction under the terms currently contemplated, Moody's said it will likely change the company's outlook to stable.
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