Fitch has rated ConAgra Inc.'s (ConAgra) $1.65 billion senior notes offering 'BBB+'. Fitch rates ConAgra's senior unsecured notes 'BBB+', subordinated debentures 'BBB' and commercial paper 'F2'. Fitch also rates ConAgra Capital, L.C. preferred securities 'BBB-'. The $1.65 billion senior notes offering comprises three tranches: $600 million 7.