Safeway Inc. -- Moody's assigns Ba2 rating to Albertsons new Term Loan; New notes rated B3

New York, May 23, 2016 -- Moody's Investors Service, ("Moody's") today assigned a Ba2 rating to Albertsons Companies, LLC's ("ACL") new proposed $1.5 billion Term Loan and B3 rating to the company's new proposed $1.25 billion senior unsecured notes. Moody's also upgraded the rating of the company's existing senior secured term loans maturing 2021 to Ba2 from Ba3 and downgraded the Safeway, Inc. legacy notes to B3 from B2. All other ratings including the company's B1 Corporate Family Rating and B1-PD Probability of Default rating are affirmed. The rating outlook remains stable.

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