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Campbell Soup Co.'s Shelf Registration Assigned Preliminary 'A-' Rating Nov 11
Standard & Poors, Nov 2011
Abstract
NEW YORK (Standard & Poor's) Nov. 23, 2011--Standard & Poor's Ratings Services said today that it assigned its preliminary 'A-' senior unsecured debt rating to Camden, N.J.-based Campbell Soup Co.'s (A-/Stable/A-2) Form S-3 shelf registration for debt securities. The new shelf has an indeterminate total initial offering amount and number of debt securities. Our 'A-' corporate credit rating reflects Campbell's strong business risk profile, highlighted by its product and brand diversification across soups, premium cookies and crackers, sauces, and vegetable-based juices, and moderate geographic diversification. Standard & Poor's believes Campbell's financial risk profile is 'intermediate,' as our criteria define the term, marked by high levels of share repurchase activity and moderate leverage. We estimate the ratio of lease- and pension-adjusted...
Companies mentioned in this report are: Campbell Soup Co.
Action: New Rating
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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