The ratings for U.S. Foodservice were placed on CreditWatch with positive implications March 8, 2000. The CreditWatch listing followed the announcement by Ahold Koninklijke N.V. (Ahold), the Netherlands-based global food retailer, of its cash tender offer for U.S. Foodservice of $26.00 per share, or about $3.6 billion including debt. The ratings for U.S. Foodservice will remain on CreditWatch with positive implications until the completion of the acquisition. Ahold has strong positions in food retail in the competitive U.S. market (65% of 1999 EBIT), where it is the largest supermarket operator on the East Coast, and in the Netherlands (21% of 1999 EBIT), where it is the leading player, with a 39% market share. U.S. Foodservice is the second-largest broadline food
