date:Mar 22, 2013
d be in the form of credit default swaps (CDS).
I think he's doing this because he's got a lot of confidence that it's a solid deal, the investor said. And the more Buffett commits, the more investors love it. It's like a seal of approval.
Even so, Heinz's credit ratings were hit by the transaction.
Fitch immediately downgraded Heinz from investment-grade to junk bond status when the deal was announced in February, dropping it to BB+ from BBB+. Last week it downgraded Heinz again to BB- from