S&P rates Premier Foods BB

Standard & Poor's said it assigned a long-term corporate credit rating of BB to Premier Foods plc.

The outlook is stable.

The rating reflects its significant debt leverage, partly mitigated by substantial free operating cash flows generated by the company's market-leading branded food operations, S&P said.

The company's satisfactory business risk profile is based on the success of the company's strategy of consolidating a large market share in the relatively recession-resilient United Kingdom packaged food market, the agency said.

© 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.