date:Mar 13, 2013
averaging over $1 billion since 2011. Liquidity and on-going financial flexibility is expected to remain adequate despite considerable debt levels following the buyout. Heinz will maintain a $1.5 billion five-year revolver and is expected to continue to hold high cash balances as cash flow generation remains robust. Fitch views the ability to defer $720 million preferred dividend as being a potential lever partners could pull should there be an unanticipated deterioration in cash flow and/or liq