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Industry Credit Outlook: U.S. Consumer Product Companies' 2010 Looks Like It's Improving Apr 10

  • ID: 1823815
  • April 2010
  • Region: United States
  • Standard & Poors
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FEATURED COMPANIES

  • ACCO Brands Corp.
  • Chattem Inc.
  • General Mills Inc.
  • Le Nature's Inc.
  • Playtex Products Inc.
  • Swift & Co.
  • MORE

Abstract
Standard & Poor's Ratings Services believes tough economic and industry conditions will continue in 2010 for most U.S. consumer products issuers, but the future looks a bit brighter. The pace of downgrades has slowed in recent months, following a very high ratio of downgrades to upgrades in the first half of 2009, and we've also taken some positive rating actions. Positive factors that could lead to improved credit quality in 2010 include better margins and cash flow resulting from prior restructuring actions, and some stabilization of commodity costs. We expect these to result in stronger balance sheets and improved liquidity as companies apply cash flow to debt repayment. The weak economy and housing market remain credit negatives for the sector,...

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

Note: Product cover images may vary from those shown
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- Alberto-Culver Co.
- Beam Suntory Inc.
- Archer Daniels Midland Co.
- Avon Products Inc.
- Beatrice Co.
- Unilever Bestfoods
- Campbell Soup Co.
- Dole Food Co. Inc.
- Clorox Co.
- The Coca-Cola Co.
- Colgate-Palmolive Co.
- ConAgra Foods Inc.
- Dean Holding Co.
- General Foods Corp.
- General Mills Inc.
- Kraft Heinz Foods Company
- The Hershey Co.
- Hormel Foods Corp.
- Interstate Bakeries Corp.
- Kellogg Co.
- Kimberly-Clark Corp.
- Levi Strauss & Co.
- Lorillard Inc.
- Mattel Inc.
- McCormick & Co. Inc.
- Ocean Spray Cranberries Inc.
- Oneida Ltd.
- PepsiCo Inc.
- PVH Corp.
- Procter & Gamble Co.
- RJ Reynolds Tobacco Holdings Inc.
- Southern States Cooperative Inc.
- Universal Corp.
- VF Corp.
- Whirlpool Corp.
- Cargill Inc.
- ContiGroup Cos. Inc.
- Land O'Lakes Inc.
- Nestle Capital Corp.
- Nestle Holdings Inc.
- Philip Morris Capital Corp.
- S.C. Johnson & Son Inc.
- Unilever U.S. Inc.
- Welch Foods Inc.
- The Hillshire Brands Co.
- American Crystal Sugar Co.
- Kellwood Co.
- Ethan Allen Retail Inc.
- Altria Group Inc.
- Church & Dwight Co. Inc.
- Hasbro Inc.
- Warnaco Group Inc.
- Coca-Cola Enterprises Inc.
- Sealy Corp.
- Newell Rubbermaid Inc.
- UST Inc.
- Reebok International Ltd.
- Playtex Products Inc.
- NIKE Inc.
- Del Monte Corp. (Old)
- Dial Corp. (The)
- Alliance One International Inc.
- PepsiAmericas Inc.
- Standard Commercial Corp.
- Cargill Inc. Employee Stock Ownership Trust
- Tyson Foods Inc.
- Revlon Consumer Products Corp.
- Chattem Inc.
- Big Heart Pet Brands
- Dean Foods Co.
- Dairy Farmers of America Inc.
- Doane Pet Care Co.
- National Bedding Co. LLC
- General Binding Corp.
- Tupperware Brands Corp.
- Spectrum Brands Inc.
- Central Garden & Pet Co.
- Carter's Inc.
- Tandus Flooring Inc.
- Anvil Knitwear Inc.
- Anvil Holdings Inc.
- Elizabeth Arden Inc.
- North Atlantic Trading Co. Inc.
- B&G Foods Inc.
- Herman Miller Inc.
- Sealy Mattress Co.
- Smithfield Foods Inc.
- Eagle Family Foods Inc.
- Reddy Ice Corp.
- Gold Toe Corp.
- Home Interiors & Gifts Inc.
- Rent-A-Center Inc.
- Norwood Promotional Products Inc.
- Jones Group Inc.
- Russell Hobbs Inc.
- Bellisio Foods Inc.
- Perry Ellis International Inc.
- Bed Bath & Beyond Inc.
- Shiseido Co. Ltd.
- The Estee Lauder Cos. Inc.
- Blyth Inc.
- St. John Knits International Inc.
- Ingredion Inc.
- Weight Watchers International Inc.
- O'Sullivan Industries Inc.
- International Flavors & Fragrances Inc.
- Ralph Lauren Corp.
- Kate Spade & Co.
- Merisant Co.
- Furniture Brands International Inc.
- Steelcase Inc.
- Mondelez International Inc.
- Flowers Foods Inc.
- Coca-Cola HBC AG
- Premium Standard Farms Inc.
- Libbey Inc.
- Gold Kist Inc.
- Jarden Corp.
- Seminis Inc.
- Swift & Co.
- Otis Spunkmeyer Inc.
- Tempur Sealy International Inc.
- Tempur-Pedic Inc
- Broder Bros. Co.
- Telex Communications Holdings Inc.
- Merisant Worldwide Inc.
- Pinnacle Foods Group LLC
- United Agri Products Inc.
- UAP Holding Corp.
- North Atlantic Holding Company Inc.
- Esselte Group Holdings AB
- Human Touch LLC
- Prestige Brands Inc.
- The Hillman Group Inc.
- Sunny Delight Beverages Co.
- AdvancePierre Foods Inc.
- K2 Inc.
- DHM Holding Co. Inc.
- BRG Sports Inc.
- Simmons Co.
- Del Laboratories Inc.
- Bare Escentuals Beauty Inc.
- Fender Musical Instruments Corp.
- Rafaella Apparel Group Inc.
- ACCO Brands Corp.
- Quiksilver Inc.
- Serta International Holdco LLC
- Quality Home Brands Holdings LLC
- WeightWatchers.com
- MAFCO Worldwide Corp.
- Airborne Health Inc.
- Wilton Brands LLC
- Reynolds American Inc.
- Hanesbrands Inc.
- Renfro Corp.
- Radio Systems Corp.
- Gold Toe Moretz Holdings Corp
- Boulder Brands Inc.
- The Yankee Candle Co. Inc.
- philosophy Inc.
- Advance Food Co.
- The Sun Products Corp.
- KIK Custom Products Inc.
- J&F I Finance Co.
- Philip Morris International Inc.
- Dr Pepper Snapple Group Inc.
- TreeHouse Foods Inc.
- JBS USA LLC
- Gillette Co.
- Nabisco Inc.
- Quaker Oats Co.
- Chiquita Brands International Inc.
- Tyson Fresh Meats Inc.
- Interactive Health Finance Corp.
- ConAgra Capital L.C.
- American Safety Razor Co.
- Hines Horticulture Inc.
- Knoll Inc.
- Simmons Bedding Co.
- Steinway Musical Instruments Inc.
- Amscan Holdings Inc.
- Tommy Hilfiger U.S.A. Inc.
- Jafra Cosmetics International Inc.
- Tropical Sportswear International Corp.
- True Temper Sports Inc.
- Linens 'n Things Inc.
- Sensient Technologies Corp.
- Earthgrains Co. (The)
- Royster-Clark Inc.
- Falcon Products Inc.
- O'Sullivan Industries Holdings Inc.
- Golden Peanut Co. LLC
- Michael Foods Inc.
- Oxford Industries Inc.
- Le Nature's Inc.
- Hines Nurseries Inc.
- Telex Communications Intermediate Holdings LLC
- Pure Fishing Inc.
- EuroFresh Inc.
- Ames True Temper Inc.
- Dole Holding Co. LLC
- Michael Foods Group Inc.
- Berkline/BenchCraft Holdings LLC
- Lenox Group Inc.
- Ethan Allen Interiors Inc.
- Pre-Paid Legal Services Inc.
- Nutro Products Inc.
- Vi-Jon Inc.
- Best Brands Corp.
- totes Isotoner Corp.
- The Gavilon Group LLC

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown

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