Fitch lifts Del Monte ratings

Fitch Ratings said it raised the ratings on Del Monte Foods Co., the parent company, and Del Monte Corp.'s senior secured bank facilities to BB+ from BB and senior subordinated notes to BB- from B.

The outlook is stable.

Fitch said the rating action on Del Monte's senior secured bank facilities follows continued improvement in credit metrics, primarily due to debt reduction, and reduced integration related risk since Del Monte's Dec. 20, 2002 acquisition of various H.J Heinz's product lines.

© 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.