PARIS (Standard&Poor's CreditWire) Jan. 16, 2001--Following the announcement by Switzerland-based Nestlé S.A., the world's largest branded food manufacturer, of its $10.3 billion cash bid (plus $1.2 billion in assumed debt) for U.S. pet food manufacturer Ralston Purina Co., Standard&Poor's today took the following rating actions: -- Placed its long-term ratings on Nestlé and its related entities on CreditWatch with negative implications, including the parent company's triple-'A' corporate credit rating. At the same time, Standard&Poor's affirmed its 'A-1'-plus short-term ratings on all of the group entities. -- Placed its triple-'B'-plus long-term corporate credit and senior unsecured debt ratings and its 'A-2' short-term corporate credit and commercial paper program ratings on Ralston Purina on CreditWatch with
