...+ Del Monte Foods Inc.'s operating performance through the third quarter of 2017 came in below its budget and our forecast, despite its strongest sales and cash flow period during the holiday season, leading us to revise our base-case forecast for 2017 downward. + We are lowering our corporate credit rating to '###+' from 'B-' because of our expectations of continued underperformance, causing financial leverage to remain weak at above 10x and free operating cash flow to remain negative through the end of fiscal 2017. + We are lowering our ratings on the first- and second-lien senior secured term loans to '###+' from 'B-' and '###-' from '###', respectively. Recovery ratings remain unchanged. + The negative outlook reflects the potential for a lower rating over the next year if the company's operating performance remains weak or deteriorates further and increases the risk of a near-term payment default or debt restructuring. NEW YORK (S&P Global Ratings) March 16, 2017--S&P Global Ratings...
