Fitch rates Del Monte notes BB-

Fitch Ratings said it assigned a BB- rating to Del Monte Foods Co.'s new $250 million 6¾% privately placed senior subordinated notes due Feb. 15, 2015. The outlook is stable.

Proceeds from Del Monte's $250 million senior subordinated debt issuance will be used to partially fund the repurchase of its 9¼% senior subordinated notes due 2011.

Fitch said the ratings reflect Del Monte's commitment to continue debt reduction in the near term and the expectation that credit metrics will continue to improve.

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