Home Credit Ratings and Research S&P Global Ratings’ Credit Research Del Monte Foods, Inc.

Del Monte Foods Inc. Outlook Revised To Negative On Lower-Than-Expected Operating Performance

Published Sep 18, 2014

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Abstract:

SAN FRANCISCO (Standard&Poor's) Sept. 18, 2014--Standard&Poor's Ratings Services today revised its rating outlook on San Francisco-based Del Monte Foods Inc. to negative from stable. At the same time, we affirmed our 'B' corporate credit rating on the company. The rating actions follow the company's weaker-than-expected operating performance in fiscal 2014 and first-quarter fiscal 2015. "The negative outlook reflects our concern that the company may not be able to restore profitability and decrease leverage if it is unable to improve operating performance," said Standard&Poor's credit analyst Bea Chiem. We also revised the recovery rating to '3' from '2' and lowered the issue-level rating on the company's first-lien term loan to 'B' from 'B+'. The lower

Report Type:

Ratings Action

Issuer

Del Monte Foods, Inc.

Sector

Global Issuers

Country

United States

Region

United States

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MLA:	S&P Global Ratings’ Credit Research. "Del Monte Foods Inc. Outlook Revised To Negative On Lower-Than-Expected Operating Performance" Sep 18, 2014. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Del-Monte-Foods-Inc-Outlook-Revised-To-Negative-On-Lower-Than-Expected-Operating-Performance-1359877>

APA:	S&P Global Ratings’ Credit Research. (). Del Monte Foods Inc. Outlook Revised To Negative On Lower-Than-Expected Operating Performance Sep 18, 2014. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Del-Monte-Foods-Inc-Outlook-Revised-To-Negative-On-Lower-Than-Expected-Operating-Performance-1359877>

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