NEW YORK (Standard&Poor's) Jan. 12, 2012--Standard&Poor's Ratings Services today assigned its 'A-2' commercial paper rating to Omaha-based ConAgra Foods Inc.'s (BBB/Stable/A-2) new $1.5 billion 4(2) commercial paper program. At the same time, we withdrew the 'A-2' commercial paper rating on the company's 3(a)3 commercial paper program, which was terminated. The new program replaces this previous commercial paper program. ConAgra Foods has indicated it intends to use proceeds from the new program for general corporate and working capital purposes. The ratings on ConAgra Foods reflect our view of the company's "satisfactory" business risk profile (as our criteria define the term), given its diverse portfolio of well-known brands and its participation in the relatively stable packaged food industry,
