Sara Lee Ratings Affirmed Following Announced Plan to Reshape Business Portfolio Jun 00
- ID: 1826610
- June 2000
- Standard & Poors
NEW YORK (Standard & Poor's CreditWire) June 1, 2000--Standard & Poor's today affirmed its double-'A'-minus long-term corporate credit and senior unsecured debt ratings, as well as its 'A-1'-plus short-term corporate credit and commercial paper ratings, for Sara Lee Corp. The affirmation follows the company's announced plan to dispose of certain noncore assets. The outlook is stable. Approximately $4.8 billion of total operating lease-adjusted debt is outstanding. Sara Lee recently announced a plan to refocus its business on three segments: Food and Beverages, Intimates and Underwear, and Household Products. Activities will include the disposition of the following businesses: PYA/Monarch, the fourth-largest food service distributor in the U.S.; Coach, a leading global leather goods business; Champion, a global manufacturer and marketer of...
Companies mentioned in this report are: Sara Lee Corp.
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