Moody's: Developing view for Amcor

Moody's Investors Service said it affirmed the Baa2/prime-2 issuer/senior unsecured and short-term commercial paper ratings of Amcor Ltd.

The outlook has been changed from negative to developing.

The change in outlook follows news of Amcor's binding offer to Rio Tinto plc for the purchase of Alcan Packaging's businesses, Moody's said.

The developing outlook reflects the evolving nature of the transaction, which still has significant hurdles to pass through and a period of months before the transaction could be completed, the agency said.

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