Kraft Heinz Taps as Much as $4 Billion of Credit Line [Yahoo! Finance News]
The Kraft Heinz Company (KHC)
Last the kraft heinz company earnings: 4/30 07:05 am
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Source: Yahoo! Finance News
) -- Kraft Heinz Co. is planning to draw down as much as $4 billion from its revolving credit facility, a month after the food giant’s credit rating was cut to junk, according to people familiar with the matter. The move comes as companies from planemaker Boeing Co. to casino operator Wynn Resorts Ltd. tap into their backup credit lines and other loans to bolster cash positions amid the worst credit-market turmoil since the 2008 financial crisis. Firms are stockpiling cash as the coronavirus pandemic shuts down broad swaths of the economy. “The demand for our brands, our cash flow and our balance sheet remain strong,” a Kraft Heinz spokesman said in response to an inquiry without commenting directly on its credit line. “As a matter of practice, we typically maintain a conservative liquidity posture, which is even that much more important as we focus on making sure all our products remain available to the public during these challenging times.” A spokesperson for JPMorgan Chase & Co.,
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KHC
Earnings
- 10/30/24 - Beat
KHC
Sec Filings
- 11/26/24 - Form 3
- 11/22/24 - Form 3
- 11/15/24 - Form 8-K
- KHC's page on the SEC website