New York, February 04, 2015 -- Moody's Investors Service (Moody's) today placed the ratings of Big Heart Pet Brands (Big Heart), including its B2 Corporate Family Rating, on review for upgrade. This follows the company's announcement that it has entered into a definitive agreement to be acquired by The J.M. Smucker Company (A3/RUR DNG). At the same time, Moody's affirmed Big Heart's SGL-1 Speculative Grade Liquidity Rating. Smucker announced that it intends to refinance all of Big Heart's debt upon closing the transaction. If any debt remains outstanding, it could have a higher rating based upon Smucker's much stronger credit profile compared to Big Heart. Moody's will withdraw its ratings on Big Heart if and when all of its debt has been repaid. The transaction is expected to close by April 30, 2015.

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