S&P lifts Whole Foods

Standard & Poor's said it raised its corporate credit rating on Whole Foods Market Inc. to BBB- from BB+. The outlook is stable.

The agency said the rating action comes after Whole Foods' strong operating trends. Its EBITDA growth over the past year of about 21% has been somewhat better than S&P anticipated and has enhanced credit protection measures meaningfully.

"Given our operating forecast, we anticipate further improvement," said S&P credit analyst Charles Pinson-Rose in a news release.

© 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.