Summary: ConAgra Foods Inc. May 08

Standard & Poors, May 2008

Abstract
The rating reflects ConAgra Foods Inc.'s diverse portfolio of well-known packaged food brands, its good geographic coverage in the U.S., and its improving credit protection measures. These factors are partially offset by higher operating costs which negatively affected margins in the company's consumer foods segment (about one half of revenues), and Standard & Poor's Ratings Services' concern that the company's core packaged food business will be challenged to improve performance in the near term given the environment of rising commodity costs. On March 27, 2008, ConAgra Foods announced the sale of its trading and merchandising operations to Ospraie Special Opportunities Fund, an affiliate of Ospraie Management, for $2.1 billion. This operating segment has been a key driver of earnings over...

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

Action: Review

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- ConAgra Foods Inc.

Customers who bought this item also bought

• Sports and Fitness Nutrition - Global Strategic Business Report
• The Survey of Library Cafes, 2012-13 Edition
• GCC Flexible Packaging Markets
• The Survey of Library Cafes
• Global Security Risks and West Africa: Development Challenges
• Unmanned Underwater Vehicles for Defense and Security: Global Markets and Technologies Outlook – 2013-2020
• Commercial And Military Flight Simulation - Global Strategic Business Report
• eLEARNING - Global Strategic Business Report
• The Political Science Reviewer
• U.S. DoD 2012 Budget