CHICAGO (S&P Global Ratings) March 31, 2020--Conagra Brands Inc. expects to exceed its prior full-year fiscal 2020 guidance assuming its supply chain continues to operate efficiently; the packaged food company indicates shipments and consumption in its core domestic retail business have increased about 50% thus far in the fourth quarter ending around May 31, 2020, more than offsetting what it expects to be a 50%-60% drop in its much smaller foodservice business. We expect solid double-digit growth in the fourth quarter as consumers continue to eat-at-home because of the coronavirus. Conagra met S&P Global Ratings' reduced expectations for third quarter (ending Feb. 23, 2020) results, with organic sales and EBITDA down 1.7% and 7.1%, respectively. We estimate adjusted leverage is
