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BULLETIN: ConAgra's Plan To Sell Most Its Refrigerated Meats Units Does Not Affect Ratings Feb 06
Standard & Poors, Feb 2006
Abstract
NEW YORK (Standard & Poor's) Feb. 3, 2006--Standard & Poor's Ratings Services said today that there would not be an immediate effect on the ratings or outlook of ConAgra Foods Inc. (BBB+/Negative/A-2) following the announcement that the company plans to divest a significant portion of its refrigerated meats businesses. Brands that would be sold include the Armour, Butterball, and Echrich brands. In addition, the company announced plans to streamline its operating structure, including moving its grocery foods' headquarters to Naperville Ill. from Irvine, Calif. The combined sales of the businesses to be divested are about $1.9 billion. It is expected that it may take 10 to 12 months before a transaction is completed. Standard & Poor's will monitor and take...
Companies mentioned in this report are: ConAgra Foods Inc.
Action: Bulletin
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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