Moody's revises Kraft outlook to positive

[Elsha]

Moody's Investors Service on Thursday revised its ratings outlook on Kraft Foods KFT -0.36% to positive from developing. Kraft plans to separate its snacks and grocery units before yearend. Moody's said Kraft's snacks business, to be renamed Mondelez International, "will have a somewhat stronger credit profile than Kraft current does." Brands for Mondelez will include Cadbury, Oreo and Tang. Kraft shares were down 0.5% at $38.23 in midday trades. The stock is up 2% since Jan. 1. By comparison, the Dow Jones Industrial Average DJIA -0.21% is up 1.3%, while the S&P 500 SPX -0.23% is up 3.8%