Published On: June 5th, 2024Categories: Trade Ideas
In this investment case, we focus our attention on Kraft Heinz (KHC), one of the largest food and beverage companies in the world. Since 2020, KHC reduced its gross debt by over $9bn, its net leverage to almost 3x and regained IG status in 2022. We like KHC bonds, offering relatively solid credit metrics and incremental spread pick up, especially in the long-end of the curve, compared to its high-BBB rated peers.
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