New York, October 09, 2013 -- Moody's Investors Service today downgraded Dole Food Company, Inc. ("Dole") Corporate Family Rating ("CFR") and Probability of Default Rating to B3 and B3-PD, respectively. This is in connection with the management buyout by President and CEO David Murdock in a deal that valued the company at approximately $1.6 billion. At the same time, Moody's assigned a B2 rating to Dole's proposed $675 million senior secured term loan facility and a Caa2 rating to the proposed $325 million in senior unsecured notes. The outlook is stable. This concludes the ratings review which was launched on August 21, 2013. The following rating actions were taken on Dole Food Company, Inc.

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