ConAgra Foods' $1B Senior Unsecured Notes Rated 'BBB' Apr 09

Standard & Poors, April 2009

Abstract
NEW YORK (Standard & Poor's) April 6, 2009--Standard & Poor's Ratings Services said today that it assigned its 'BBB' senior unsecured rating to Omaha, Neb.-based ConAgra Foods Inc.'s $500 million 5.875% notes due April 2014 and $500 million 7% notes due April 2019. These notes will be issued off of ConAgra's previously filed Rule 415 shelf registration for debt securities. The company intends to use the net proceeds from the offering to purchase up to $600 million total principal amount of three series of its outstanding senior notes in cash tender offers that it commenced today. The offers to purchase consist of two separate offers, with one offer to purchase any and all of the $300 million 6.7% senior notes...

Companies mentioned in this report are:
- ConAgra Foods Inc.
- Beatrice Co.
- ConAgra Holdings (Australia) Pty. Ltd.

Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- ConAgra Foods Inc.
- Beatrice Co.
- ConAgra Holdings (Australia) Pty. Ltd.

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