Moody's ups Tyson to positive

Moody's Investors Service said it revised Tyson Foods Inc.'s outlook to positive from stable.

The agency also said it affirmed the corporate family and probability of default ratings of Tyson Foods Inc. at Ba1, along with its existing senior unsecured debt and shelf ratings on Tyson Foods and its subsidiaries.

The outlook revision reflects an expectation that Tyson should be able to sustain moderate leverage and strengthen its liquidity profile over the next 12 to 18 months, which could lead to an upgrade, the agency said.

The positive outlook also takes into consideration that the protein industry could experience challenges over the next year, especially in chicken and beef, which combined represent more than 75% of Tyson's sales, Moody's said.

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