ConAgra Foods Inc. Ratings Placed On CreditWatch Developing Following Planned Exit Of Private Label Business

U.S.–based ConAgra Foods Inc. announced that it plans to exit its private label business. We believe that proceeds could be applied to debt reduction and the company's profitability could improve with the divestiture of the underperforming business. We are placing all our ratings, including our 'BBB-' corporate credit and our 'A-3' short-term corporate credit and commercial paper ratings, on ConAgra Foods Inc. on CreditWatch with developing implications. The CreditWatch listing reflects our belief that we could lower, raise, or affirm the ratings following our review. We will review the ratings following receipt of more information regarding the company's planned private label business sale, its business strategy and plans for the remaining portfolio, and overall financial policies. SAN FRANCISCO (Standard&

...+ U.S.¡based ConAgra Foods Inc. announced that it plans to exit its private label business. We believe that proceeds could be applied to debt reduction and the company's profitability could improve with the divestiture of the underperforming business. + We are placing all our ratings, including our '###-' corporate credit and our 'A-3' short-term corporate credit and commercial paper ratings, on ConAgra Foods Inc. on CreditWatch with developing implications. + The CreditWatch listing reflects our belief that we could lower, raise, or affirm the ratings following our review. We will review the ratings following receipt of more information regarding the company's planned private label business sale, its business strategy and plans for the remaining portfolio, and overall financial policies. SAN FRANCISCO (Standard & Poor's) July 1, 2015--Standard & Poor's Ratings Services today placed all its ratings, including its '###-' corporate credit rating, on Omaha, Neb.-based ConAgra Foods Inc. on...

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