Moody's Lowers Safeway Debt Rating

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 t

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