Strong brand names within the packaged foods and poultry industries Broad market penetration A solid liquidity position Moderately aggressive debt leverage for the rating The company's food service business has been slow to come back after the Sept. 11, 2001, terrorist attack. To expand its packaged food segment, ConAgra will embark on small brand food acquisitions. The ratings reflect ConAgra's relatively low business risk, which results from a diverse portfolio of leading packaged-food brands, as well as the company's major positions in poultry, flour milling, grain trading, and agricultural inputs. These factors are offset, in part, by high debt leverage and cyclical weakness within its agriculture products business. Standard&Poor's expects ConAgra Foods' operating margins to improve following the
