NEW YORK — Moody's Investors Service here said Monday it was downgrading the senior unsecured rating for Safeway, Pleasanton, Calif., to Baa3 from Baa2, with a stable outlook. The downgrade follows the company's issuance of $800 million in senior unsecured notes and the closing of a new $700 million delayed draw term loan in December. Safeway said it expects the proceeds from the notes and the term loan to be used for general corporate purposes, refinancing debt and ...
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