Research Update: Kraft Foods Inc. Outlook Revised To Stable From Positive On Separation Announcement; 'BBB' Corp. Credit Rating Affirmed Aug 11
Standard & Poors, August 2011
Abstract
U.S.-based Kraft Foods Inc. has announced that its board of directors intends to separate the North American grocery business in a tax-free spin-off to Kraft shareholders. We are affirming our 'BBB' corporate credit rating on Kraft. We are revising our outlook to stable from positive, reflecting our expectation that Kraft is unlikely to improve credit metrics to levels we believe will support an upgrade for the remaining entity in the near term, and there is limited information regarding the company's future financial policies to support a higher rating. On Aug. 4, 2011, Standard & Poor's Ratings Services revised its outlook on Northfield, Ill.-based Kraft Foods Inc. to stable from positive. At the same time, we affirmed our 'BBB' corporate credit...
Companies mentioned in this report are: Kraft Foods Inc.,Nabisco Inc.,Cadbury Holdings Ltd.,Cadbury Schweppes U.S. Finance LLC
Action: Affirmed
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Kraft Foods Inc.,Nabisco Inc.,Cadbury Holdings Ltd.,Cadbury Schweppes U.S. Finance LLC
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