Fitch ups Supervalu unsecured to BB-

Fitch Ratings said it affirmed Supervalu Inc.'s issuer default rating at BB-, $2 billion revolving bank credit facility at BB, $1.25 billion term loan A at BB, $750 million term loan B at BB and New Albertson's, Inc. and American Stores, Inc. senior unsecured notes at BB-.

The agency upgraded Supervalu senior unsecured notes upgraded to BB- from B+.

The outlook was changed to positive from negative given the successful integration of the Albertson's assets acquired in June 2006 and steady operating results, according to Fitch.

The ratings reflect broad geographic presence, strong positions in key markets and defined operating strategy, Fitch said.

The ratings also consider the company's financial leverage and the highly competitive operating environment, the agency said. The company reported total adjusted debt-to-operating EBITDAR ratio of 3.8 times for the 12 months ended June 16.

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