S&P: General Mills gets Wells Notice

Standard & Poor's said General Mills Inc. (BBB+/stable/A-2) received a "Wells Notice" from the staff of the Securities and Exchange Commission in connection with its inquiry concerning the company's sales practices and related accounting.

That inquiry was announced by General Mills in October 2003 and is ongoing. Although this investigation is a concern, S&P said it believes it would be premature to take any rating or outlook action given the lack of information available at this point and the inconclusive nature of the investigation.

The company believes its sales practices and related accounting comply with all applicable rules and regulations, and the company is continuing to cooperate with the SEC in its investigation.

© 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.