Moody's Sees B&G Foods' (BGS) Move to Acquire Specialty Brands as Credit-Negative Event

Moody's said the following today:

B&G Foods, Inc.'s (NYSE: BGS) announcement that it has entered into an agreement to acquire Specialty Brands of America, Inc. for approximately $155 million in a largely debt-financed transaction is a credit negative, but it does not immediately impact the company's Ba3 Corporate Family Rating (CFR) or stable rating outlook.

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