Research Update: Del Monte Foods Inc. Outlook Revised To Negative On Weaker-Than-Expected Operating Performance - S&P Global Ratings’ Credit Research

Research Update: Del Monte Foods Inc. Outlook Revised To Negative On Weaker-Than-Expected Operating Performance

Research Update: Del Monte Foods Inc. Outlook Revised To Negative On Weaker-Than-Expected Operating Performance - S&P Global Ratings’ Credit Research
Research Update: Del Monte Foods Inc. Outlook Revised To Negative On Weaker-Than-Expected Operating Performance
Published Sep 18, 2014
Published Sep 18, 2014
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About This Report

  
Abstract:

We are revising our outlook to negative from stable on Del Monte Foods Inc. (DMFI), reflecting the company's weaker-than-expected operating performance in fiscal 2014 and first-quarter fiscal 2015. We are affirming DMFI's 'B' corporate credit rating. We are revising the recovery rating on the senior secured first-lien term loan to '3' from '2' and lowering the issue-level rating one notch to 'B' from 'B+'. We are affirming the second-lien term loan recovery rating of '6' and 'CCC+' issue-level rating. The negative outlook reflects our concern that DMFI may not be able to restore profitability and decrease leverage if it is unable to improve operating performance. On Sept. 18, 2014, Standard&Poor's Ratings Services revised its rating outlook on San

  
Report Type:

Research Update

Issuer
Del Monte Foods, Inc.
Sector
Global Issuers
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Research Update: Del Monte Foods Inc. Outlook Revised To Negative On Weaker-Than-Expected Operating Performance" Sep 18, 2014. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Del-Monte-Foods-Inc-Outlook-Revised-To-Negative-On-Weaker-Than-Expected-Operating-Performance-1359878>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Del Monte Foods Inc. Outlook Revised To Negative On Weaker-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/Research-Update-Del-Monte-Foods-Inc-Outlook-Revised-To-Negative-On-Weaker-Than-Expected-Operating-Performance-1359878>
  
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