Moody's ups Dean Foods loan

Moody's Investors Service said it lowered Dean Foods Co.'s corporate family and probability of default ratings to B1 from Ba3.

At the same time, Moody's upgraded the rating for Dean's senior secured credit facility to Ba2 from Ba3, while unsecured debt ratings were confirmed at B2.

The company's SGL-2 speculative grade liquidity rating remains unchanged.

The outlook is stable.

Moody's said the new ratings reflect Dean's business and financial position post the completion of the planned spinoff of most of its remaining interest in WhiteWave to shareholders, as well as the sale of Morningstar which closed Jan. 3.

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