S&P: Whole Foods to negative

Standard & Poor’s said it revised the outlook on Whole Foods Market Inc. to negative from stable.

The agency also said it affirmed the BBB- corporate credit rating.

S&P also said it assigned a BBB- rating to the company’s new $500 million revolving credit facility.

The outlook revision reflects expectations that the company’s credit protection measures could weaken below previous forecasts in the next two years because of less conservative financial policies combined with weaker operating performance, the agency said.

S&P said it anticipates that the company will encounter difficulties in achieving its operational goals in light of its shift in strategic priorities.

This includes focusing more on price investments and expense management in response to declining sales trends, the agency said.

© 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.