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• The Wall Street Journal reports that Amazon plans to sell $16 billion worth of bonds to finance its planned $13.7 billion acquisition of Whole Foods.

For Amazon, the story says, this represents “a relatively rare trip to the debt market as it looks to become a major player in the grocery industry.” The story also says that “earlier this week, Moody’s Investors Service affirmed Amazon’s Baa 1 rating and changed its outlook to positive from stable, saying the benefits of the Whole Foods acquisition outweighed the extra debt being taken on to fund the deal. The debt sale is just Amazon’s fourth since 1998 and first since Dec. 2014, according to Dealogic.”
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