|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: Sara Lee 'BBB+' Rating Currently Unaffected By Announcement Jul 06
Standard & Poors, July 2006
Abstract
NEW YORK (Standard & Poor's ) July 21, 2006--Standard & Poor's Ratings Services said today that Sara Lee Corp.'s (BBB+/Stable/A-2) announcement that it will receive a $2.4 billion one-time payment upon the spin-off of its apparel business will have no immediate affect on the rating or outlook of the company. It has been Standard & Poor's expectation since the transformation plan was announced in August 2005 that divestiture proceeds would be used to complete up to $2 billion in common stock repurchases. If Sara Lee should increase the size of its share repurchase program, we would view this as a further indication of management's more aggressive financial policy, and we would review the effect it would have on the rating...
Companies mentioned in this report are: Sara Lee Corp.
Action: Bulletin
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
