...- Albertsons Cos. Inc. (ACI) continues to report very strong operating momentum amid the COVID-19 pandemic, with excess cash flows in part directed toward debt repayment this year. - S&P Global Ratings is raising its issuer credit rating on ACI to '##-' from 'B+'. - At the same time, we are affirming our rating on the company's unsecured notes at '##-', and revising the recovery rating to '3' from '2' and the recovery percentage is capped at 50%-70% (rounded estimate: 65%) in the event of a payment default or bankruptcy. - For subordinated debtholders Safeway Inc. and New Albertsons LP (NALP), we are raising the issue-level rating to 'B' from 'B-', in line with the corporate credit rating. The recovery rating of '6' is unchanged on those instruments, indicating our expectation of 0%-10% recovery (rounded estimate: 0%) in the event of a payment default or bankruptcy. - The positive outlook reflects our view that ACI could sustain lower leverage if food-at-home consumer spending remains solid...
