| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for Sysco Corp. > News item |
S&P downgrades Sysco
Standard & Poor’s said it lowered the long- and short-term ratings on Sysco Corp. to A-/A-2 from A/A-1.
The agency also said it lowered the rating on Sysco’s commercial paper to A-2 from A-1, along with the ratings on the company’s senior unsecured notes to A- from A.
The outlook is stable.
The agency also said it expects to discontinue the ratings on Sysco’s $5 billion notes, which the company issued to partly fund its proposed acquisition of US Foods following their redemption.
This is expected to occur within the next 40 days, S&P said.
The agency also said it removed the ratings on Sysco from CreditWatch, where they were placed with negative implications in December 2013.
The downgrades reflect the projected deterioration in Sysco’s credit metrics, 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.