|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: Smithfield Foods And ConAgra Foods Ratings Are Not Affected By Cook's Ham Purchase Jan 06
Standard & Poors, Jan 2006
Abstract
NEW YORK (Standard & Poor's) Jan. 26, 2006--Standard & Poor's Ratings Services said today that there would not be any effect on the ratings or outlook of both Smithfield Foods Inc. (BB+/Stable/--) or ConAgra Foods Inc. (BBB+/Negative/A-2) following the announcement that the companies had signed a definitive agreement for Smithfield Foods to acquire substantially all of the assets of the Cook's ham business from ConAgra Foods. Cook's has annual sales of about $330 million. Terms of the deal were not publicly disclosed. The closing is expected to occur during Smithfield Foods' fourth quarter, which ends on April 30, 2006, and is subject to review under the provisions of Hart-Scott-Rodino as well as other customary closing requirements. Standard & Poor's believes...
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.
|
|
|
|
