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BULLETIN: Smithfield Foods' Purchase of Cattle Feeding Operations Will Have No Ratings Effect Oct 04
Standard & Poors, Oct 2004
Abstract
NEW YORK (Standard & Poor's) Oct. 22, 2004--Standard & Poor's Ratings Services said today that the ratings and outlook on Smithfield Foods Inc. (BB+/Stable/--) and ConAgra Foods Inc. (BBB+/Stable/A-3) would not be affected by Smithfield Foods' purchase of ConAgra Foods' cattle feeding operations. The purchase of the cattle feedlots will compliment Smithfield Foods' existing beef packing operations. Over the past several years, ConAgra Foods has exited its agricultural commodity operations. The purchase price was not publicly disclosed....
Companies mentioned in this report are: Smithfield Foods Inc.,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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