New York, July 17, 2014 -- Most US food and beverage companies with ratings near the crossover point between investment and speculative grade have bonds with weak liens covenants, increasing the exposure of bondholders to large, debt-financed mergers and acquisitions, says Moody's Investors Service. Another investor protection, change-of-control provisions, is often missing from those bonds issued before 2007, says Moody's.
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