NEW YORK (Standard&Poor's) Feb. 3, 2006--Standard&Poor's Ratings Services said today that there would not be an immediate effect on the ratings or outlook of ConAgra Foods Inc. (BBB+/Negative/A-2) following the announcement that the company plans to divest a significant portion of its refrigerated meats businesses. Brands that would be sold include the Armour, Butterball, and Echrich brands. In addition, the company announced plans to streamline its operating structure, including moving its grocery foods' headquarters to Naperville Ill. from Irvine, Calif. The combined sales of the businesses to be divested are about $1.9 billion. It is expected that it may take 10 to 12 months before a transaction is completed. Standard&Poor's will monitor and take
