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BULLETIN: ConAgra Foods Inc. To Sell Bumble Bee Canned Seafood Subsidiary May 03
Standard & Poors, May 2003
Abstract
NEW YORK (Standard & Poor's) May 20, 2003--Standard & Poor's Ratings Services said today that there would be no effect on the ratings or outlook of leading packaged food manufacturer ConAgra Foods Inc. (BBB+/Stable/A-2) following the company's announcement that it will sell its Bumble Bee canned seafood subsidiary and other seafood assets. The business is being sold to Bumble Bee's operating management and an affiliate of Centre Partners Management LLC, a private investment firm. Its brands include Bumble Bee, Orleans, Paramount, and Clover Leaf. The divestiture is a continuation of ConAgra's strategy to focus on its branded packaged food business and to transition away from commodity proteins....
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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