July 17, 2017 / 1:05 PM / 7 days ago

BRIEF-Kroger says "will make several changes" after review

2 Min Read

July 17 (Reuters) - Kroger Co:

* Says conducted a review of structure and benefits of company's sponsored defined benefit plans

* Says as a result of the review, company will make several changes

* Says its overall balance sheet obligations will not change; co committed to maintaining our current investment grade rating

* Kroger Co-to make contribution to plan this year of up to $1 billion that co believes will address underfunded position of sponsored defined benefit​ plan

* Kroger Co - ‍debt will be issued to pay for funding of pension liability - SEC filing​

* Kroger Co - there will be a one-time expense in 2017 associated with settlement of company's obligations for eligible participants' pension balances

* Kroger Co says the one-time cost is not contemplated in earnings guidance for year

* Kroger- ‍certain participants' benefit balances to be distributed out of plan via transfer to other qualified retirement plan options/lump sum payout Source text: (bit.ly/2uuX6dB) Further company coverage:

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