Sysco Agrees to Acquire Brakes Group
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Sysco Corp. (SYY) Ratings Placed on Review for Downgrade by Moody's
February 22, 2016 3:30 PM ESTMoody's Investors Service placed all ratings of Sysco Corporation (NYSE: SYY), including both the A2 senior unsecured and Prime-1 commercial paper ratings, on review for downgrade. These actions follow Sysco's announcement today that it is acquiring Brakes Group (parent is Cucina Acquisition UK Limited, which has a Caa1 corporate family rating), a UK-based foodservice distributor, from affiliates of Bain Capital for around $3.1 billion, which will include repayment of... More
