12.09.2016 17:09:00
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Dairy Farmers of America, Inc. -- Moody's rates DFA's $100 million preferred stock Baa3; Positive Outlook
New York, September 12, 2016 -- Moody's Investors Service today assigned a Baa3 rating to Dairy Farmers of America, Inc.'s (DFA) $100 million Series C perpetual preferred stock. Proceeds will be used for general corporate purposes. The Baa3 rating is two notches below the Baa1 Senior Unsecured Rating reflecting its lower priority position in the capital structure. The rating outlook is positive. There are no changes to DFA's existing ratings, including the Baa1 senior unsecured rating or the Prime-2 commercial paper rating.