S&P assigns B+ to Windsor Quality Food loan

Standard & Poor's said it affirmed its B+ corporate credit rating on Windsor Quality Food Co. Ltd. The outlook is stable.

At the same time, S&P assigned a B+ issue-level rating to the company's proposed $350 million term loan B. The recovery rating is 3, indicating that lenders could expect meaningful (50% to 70%) recovery in the event of a payment default.

"The ratings on Windsor reflect our assessment of its 'weak' business risk profile and 'aggressive' financial risk profile," said S&P credit analyst Bea Chiem in a news release.

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