Fitch revises Dean Foods to stable

Fitch Ratings said it affirmed the long-term issuer default ratings for Dean Foods Co. and its subsidiary, Dean Holding Co., at BB-.

The outlook was revised to stable from negative driven by the agency’s expectations for substantial improvement in operating earnings in 2015 on lower milk input prices and the removal of structural costs.

As a result, Fitch anticipates that gross leverage (total adjusted debt-to-EBITDAR) is likely to improve to the 4 times range in 2015 from 5.8 times at the end of 2014.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.