U.S.-based US Foods Inc. mutually terminated its merger agreement with Sysco Inc. after the proposed merger was blocked by a U.S. Federal Trade Commission (FTC) judge. Sysco will pay US Foods' parent, USF Holding Corp., a $300 million breakage fee as part of the termination. We are affirming our 'B' corporate credit rating on US Foods and removing all our ratings on the company from CreditWatch. The stable outlook reflects our expectation that US Foods will modestly increase revenues and generate stable free cash flow, enabling the company to modestly improve credit ratios. On June 30, 2015, Standard&Poor's Ratings Services affirmed all of its long-term ratings on Rosemont, Ill.-based US Foods Inc. (USF), including its 'B' corporate credit
