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S&P: Krispy Kreme unchanged
Standard & Poor's said that MGL Asset Management Group LLC's unsolicited offer to purchase Krispy Kreme Doughnuts Inc. (B-/negative) has no immediate effect on the company's ratings or outlook.
At this point, the agency said that it cannot discern if the offer is credible or if it will be accepted.
S&P added that its current ratings reflect the many challenges facing the company, namely slower consumer spending, rising commodity costs and a declining domestic store base that is a result of narrow product offerings that has not been able to compete effectively within the breakfast and snack-food segments of the restaurant industry.
If Krispy Kreme were purchased, those challenges would not change materially and therefore, the ratings and outlook are not likely to change, the agency noted.
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