- Published: May 2012
- Region: United States
Del Monte Foods Outlook Revised To Stable From Positive, Ratings Affirmed On Meow Mix Purchase Mar 06
- Published: March 2006
- Standard & Poors
NEW YORK (Standard & Poor's) March 3, 2006--Standard & Poor's Ratings Services revised its outlook on food processor Del Monte Foods Co. to stable from positive. At the same time, Standard & Poor's affirmed its ratings, including its 'BB-' long-term and 'B-1' short-term corporate credit ratings. San Francisco, Calif.-based Del Monte had about $1.3 billion of lease-adjusted total debt outstanding as of Jan. 29, 2006. The outlook revision reflects the expected delay in returning credit measures to levels appropriate for a higher rating following the company's announced $705 million acquisition of Meow Mix Holdings Inc., the second-largest U.S. dry cat-food maker, from the Cypress Group. The company intends to fund the Meow Mix transaction with about $210 million in expected...
Companies mentioned in this report are: Del Monte Corp.
Action: Outlook: Stable
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Research type: News
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Del Monte Corp.