date:Mar 29, 2013
e deal may buy another 4.4 million shares to sell, increasing the proceeds for Pinnacle Foods.
The Parsippany, N.J., company plans to use proceeds to lower its debt but will still carry about $2.1 billion in debt.
Moody's Investors Service put Pinnacle's ratings on review for an upgrade, as the successful IPO could help lower its debt levels. The rating agency currently has assigned Pinnacle a B2 corporate family rating, which puts it in the middle of junk-grade territory.
Pinnacle Foods, whi