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Moody's upgrades Reynolds ratings


Published : Mon, 12 Feb 2007 20:02
By : Agencies
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NEW YORK (AP) - Moody's Investors Service on Monday upgraded the long-term debt ratings of Reynolds American Inc., the nation's second-largest tobacco company, and its subsidiaries.

The agency lifted Reynolds' corporate family rating to 'Ba1' from 'Ba2' and affirmed its revolving credit and term loan bank facility ratings at 'Baa2.' Its speculative grade liquidity rating was affirmed at 'SGL-2.'

The outlook on the ratings is positive.

Shares of Reynolds American added 8 cents to $62.83 in afternoon trading on the New York Stock Exchange.

Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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