S&P changes American Crystal to negative

Standard & Poor's said it affirmed its BBB+ long-term and A-2 short-term corporate credit ratings on American Crystal Sugar Co. and revised the outlook to negative from stable.

"The negative outlook reflects the very weak operating environment, in large part because Mexican sugar imports have created an oversupply of U.S. sugar," S&P credit analyst Kim Logan said in a news release.

"Although we believe the supply glut of domestic sugar is declining and U.S. sugar prices will rebound, the certainty of this rebound is still in doubt, and any prolonged slump in sugar prices and operating performance could result in a downgrade."

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