S&P trims Conagra Brands view to negative

S&P said it affirmed its BBB/A-2 corporate credit rating on Conagra Brands Inc. and revised the outlook to negative from stable.

At the same time, S&P said it affirmed its BBB senior unsecured rating, the BBB- subordinated debt rating, and the A-2 commercial paper rating.

“The negative outlook reflects the meaningful increase in debt and balance sheet leveraging to around the low-5x area at close,” S&P said 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.