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Research Update: Welch Foods Inc. Outlook Revised To Negative On Expectation Of Weaker Credit Measures; 'A-' Rating Affirmed Jan 13 Product Image

Research Update: Welch Foods Inc. Outlook Revised To Negative On Expectation Of Weaker Credit Measures; 'A-' Rating Affirmed Jan 13

  • Published: January 2013
  • Standard & Poors

Abstract
We believe a small 2012 Concord grape harvest will result in lower patron earnings and weaker credit measures for Welch Foods Inc. in fiscal 2013. We are affirming all our ratings on the company, including the 'A-' corporate credit rating. We are revising the outlook to negative, reflecting our concerns that credit measures may remain weaker than our expectations for the current ratings over next 12 to 24 months. On Jan. 24, 2013, Standard & Poor's Ratings Services affirmed all its ratings on Concord, Mass.-based Welch Foods Inc., including the 'A-' corporate credit rating. At the same time, we revised the outlook to negative. Welch foods had about $135 million in reported debt outstanding as of Dec. 2, 2012. The...

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

Action: Affirmed
Action: Outlook: Negative

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 READ MORE >

- Welch Foods Inc.

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