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S&P puts H-Food on watch
S&P said it placed its B issuer credit rating on H-Food Holdings LLC on CreditWatch with negative implications.
S&P also placed the following ratings on CreditWatch with negative implications: the B issue-level rating on the senior secured credit facility (comprising a $150 million undrawn revolver due 2023 and a $1.145 billion term-loan due 2025) and the CCC+ issue-level rating on the $350 million senior unsecured notes due 2026.
“The CreditWatch negative reflects our expectation for leverage to increase from already elevated levels pro forma for the acquisition of Greencore USA,” S&P said in a news release.
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