S&P assigns B&G Foods loan BB-

Standard & Poor's said it assigned its BB- bank loan rating and recovery rating of 1 to B&G Foods Holding Corp.'s new $25 million five-year senior secured term loan B due 2010.

S&P also said it affirmed its existing ratings on B&G Foods, including its B corporate credit rating.

The outlook is negative.

The agency said the ratings on B&G Foods reflect its high debt levels after a history of debt-financed acquisitions and an enhanced income securities capital structure.

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