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BULLETIN: ConAgra Foods Inc.'s Share Repurchase Program Has No Ratings Effect Dec 03
Standard & Poors, Dec 2003
Abstract
NEW YORK (Standard & Poor's) Dec. 4, 2003--Standard & Poor's Ratings Services said today that the ratings and outlook on ConAgra Foods Inc. (BBB+/Stable/A-2) would not be affected by the company's announcement that it had established a $1 billion common stock share repurchase program. Standard & Poor's expects that share repurchases will be done with proceeds from ConAgra's two recent divestitures (chicken processing operations and agricultural distribution operations) and free cash flow. However, the share buyback program will limit the company's financial flexibility for strategic acquisitions....
Companies mentioned in this report are: ConAgra Foods Inc.
Action: S&P Event
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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