- Language: English
- Published: November 2012
- Region: Iraq
Summary: CTI Foods Holding Co. LLC Aug 11
- Published: August 2011
- Standard & Poors
The ratings on processed food supplier CTI Foods Holding Co. LLC reflect our opinion of the company's vulnerable business risk profile and highly leveraged financial profile. The vulnerable business risk profile reflects our opinion of the company's limited geographic coverage, modest scale of operations, and high customer concentration. We believe that the company's growth will remain modest over the next year due to our view of continued weak consumer spending in the food-prepared-away-from-home industry. CTI's highly leveraged financial profile reflects its high leverage following the issuance of preferred stock and holdco payment-in-kind (PIK) notes in conjunction with its sale to a financial sponsor in early 2010, as well as added debt to finance the soup plant construction. For the second...
Companies mentioned in this report are: CTI Foods Holding Co. LLC
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CTI Foods Holding Co. LLC