New York, November 24, 2015 -- Moody's Investors Service ("Moody's") today placed the ratings of Boulder Brands, Inc. (Boulder Brands) including its B2 Corporate Family Rating, on review for upgrade. This follows the company's announcement that Pinnacle Foods Inc. signed a definitive agreement to acquire Boulder Brands. Moody's views that the post-acquisition entity will likely be a stronger credit than Boulder Brands on a stand-alone basis. Moody's review will focus on the post-transaction business profile and capital structure. If any Boulder Brand's existing debt remains outstanding following the transaction and is guaranteed by Pinnacle Foods, it could have a higher rating based upon the post-acquisition entity's stronger profile compared to Boulder Brands. If Pinnacle Food's does not guarantee Bolder Brand's debt post transaction, Moody's will need to continue to receive sufficient stand-alone financial information on Boulder Brands in order to maintain ratings. If sufficient financial information is not received, or if Boulder Brand's debt is repaid as part of the transaction, Moody's will withdraw its ratings on Boulder Brands.

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