S&P cuts Wm. Bolthouse

Standard & Poor's said it lowered its ratings on Wm. Bolthouse Farms Inc. by one notch, including lowering the corporate credit rating to B from B+.

At the same time, the agency said it removed the ratings from CreditWatch, where they were placed on March 2, with negative implications, following weaker-than-expected fiscal year-to-date results.

The outlook is stable.

According to S&P, the downgrade reflects weaker-than-expected fiscal-year-to-date operating performance and credit metrics at Dec. 31.

The agency added that the ratings on Bolthouse reflect its narrow focus on the cut and peeled carrot and super premium natural beverage categories, its high debt leverage, and its participation in the highly competitive vegetable and beverage industries.

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