Research Update: Archer Daniels Midland Co. Outlook Revised To Negative As Drought Weakens U.S. Harvests; 'A' Rating Affirmed Aug 12
- Language: English
- Published: August 2012
- Region: United States
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: 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 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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- Welch Foods Inc.