S&P ups KeHE Distributors

S&P said it raised KeHE Distributors Holdings LLC’s rating to B from B-, citing better-than-expected financial results.

“We expect the company will expand faster than the food wholesaler industry, supported by strong natural, organic and fresh product demand and market share gains, and remain on a path toward deleveraging through earnings growth in the coming year,” S&P said in a press release.

S&P also raised its rating on KeHE’s asset-backed loan to BB- from B+ and on the second-lien notes to B- from CCC+.

The outlook is stable. S&P said it expects positive operating momentum to continue and a more prudent approach to acquisitions.

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