Well-known brand names within the packaged foods industry; Broad market penetration in the U.S.; and A solid liquidity position. The ability to continue with top line growth in the company's priority brands following the divestiture of low margin businesses and trading and merchandising operations; and Operating margins pressure due to higher energy and commodity costs; and Execution risk in the restructuring process. The rating reflects ConAgra Foods Inc.'s diverse portfolio of well-known packaged food brands, its good geographic coverage in the U.S., and its improving credit protection measures. These factors are partially offset by higher operating costs which negatively affected margins, particularly in the company's consumer foods segment (about 59% of revenues), and Standard&Poor's concern that the company's
