S&P: Dole view to developing

Standard & Poor's said it affirmed the corporate credit rating on Dole Food Co. Inc. at B and revised its outlook to developing from stable.

The outlook change follows news that Dole initiated a comprehensive strategic review of its businesses seeking to enhance shareholder value, S&P said.

The alternatives to be considered may include a full or partial separation of one or more of its businesses.

Specific information regarding the terms of any potential transaction is not yet available, S&P said.

The company's ratings consider its highly leveraged financial risk profile and weak business risk profile, the agency said.

The ratings also reflect Dole's strong market positions, good geographical, product and customer diversification and its well-recognized brand name, S&P said.

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