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Research Update: ConAgra Foods Inc. Dec 02 Product Image

Research Update: ConAgra Foods Inc. Dec 02

  • ID: 2043222
  • December 2002
  • Standard & Poors

On Dec. 17, 2002, Standard & Poor's assigned its preliminary 'BBB+'/'BBB'/'BBB-' ratings to the senior unsecured debt/subordinated debt/preferred stock of ConAgra Foods Inc.'s $4 billion Rule 415 universal shelf filing. The universal shelf allows ConAgra to issue senior unsecured debt, subordinated debt, preferred securities, and common stock. The company's 'BBB+' corporate credit rating and 'A-2' commercial paper ratings were affirmed. The rating outlook is stable. About $7.3 billion of total debt was outstanding as of Aug. 25, 2002. The ratings reflect ConAgra's relatively low business risk, which results from a diverse portfolio of leading packaged-food brands, as well as the company's major positions in poultry, flour milling, grain trading, and agricultural inputs. These factors are offset, in part, by high...

Companies mentioned in this report are:
- ConAgra Foods Inc.

Action: New Rating

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