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Sara Lee Corp. Ratings Lowered To 'BBB+' From 'A' On Increased Common Stock Repurchase Program Aug 05 Product Image

Sara Lee Corp. Ratings Lowered To 'BBB+' From 'A' On Increased Common Stock Repurchase Program Aug 05

  • ID: 1827899
  • August 2005
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Aug. 4, 2005--Standard & Poor's Ratings Services lowered its long-term corporate credit and senior unsecured debt ratings to 'BBB+' from 'A' on diversified consumer products company, Sara Lee Corp., and its wholly owned subsidiary, The Earthgrains Co. At the same time, Standard & Poor's lowered its short-term corporate credit and commercial paper ratings on the company to 'A-2' from 'A-1'. The outlook is stable. About $3.7 billion of rated debt of Chicago, Ill.-based Sara Lee is affected. The downgrade follows the company's announcement of its fiscal 2005 earnings and new capital structure initiatives, and reflects Standard & Poor's opinion that the $2 billion common stock repurchase program and dividend payout indicate a much more aggressive...

Companies mentioned in this report are: Sara Lee Corp.,Earthgrains Co. (The)
Action: Downgraded
Action: Outlook: Stable

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.

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