...+ U.S.-based ConAgra Foods Inc. completed its sale of the private label business to TreeHouse Foods Inc. for roughly $2.7 billion, and the company announced a tender offer for roughly $1.4 billion of its senior unsecured notes. Management also expects to pay down roughly $750 million in short-term debt that was used to refinance the maturity in January 2016, resulting in approximately $2.2 billion in debt reduction. + While the spin-off of the Lamb Weston business is still pending, we believe that the new, stand-alone consumer foods company will likely retain an investment-grade rating. Therefore, we are affirming all of our ratings, including our '###-' corporate credit rating, on ConAgra Foods Inc. + We are removing all of our ratings from CreditWatch with developing implications, where they were placed on July 1, 2015, following the company's announcement of the sale of the private label business. + The stable outlook reflects our belief that, although the company's long-term capital...
