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Moody's also adds on Hershey's/Amplify.....>

US BONDS
US BONDS: Moody's also adds on Hershey's/Amplify combination that Hershey's "A1
rating has been supported by very strong credit metrics, stable cash flows,
strong profit margins, good liquidity and leading position in the U.S.
confectionery market. The rating is constrained by Hershey's limited product and
geographic diversification compared with other global food companies."
- But it added that "about 88% of the company's sales are generated in North
America, and it is exposed to potential commodity cost fluctuations, especially
cocoa. These risks require Hershey to maintain stronger and more stable credit
metrics than are typical of an A1-rated company. While Amplify will improve the
company's product diversification, It will add to the company's concentration on
the US market."

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