Problem \#1 The following data are from Kellogg's 10-K report dated December 29, 2018 (\$ millions). a. Use the data above to calculate the following ratios: EBITA/Average assets, EBITA Margin, EBITA/ Interest expense, Debt/EBITDA, CAPEX/Depreciation Expense. Definitions for these ratios are in Exhibit 7.4. b. Refer to Exhibit 7.4 and the ratios you calculated in part a. Estimate the credit rating that Moody's might assign to Kellogg. Table reports 2017 median values by credit rating; from Moody's Financial Metrics TM, Key Ratios by Rating and Industry for North American Non-Financial Corporates: December 2017 (reproduced with permission). FFO = Funds from Operations = Net income from continuing operations plus depreciation, amortization, deferred income taxes, and other noncash items
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