S&P lifts Albertsons to B+

S&P said it raised its Albertsons Cos. Inc. issuer credit rating to B+ from B. The outlook is stable.

The rating agency also raised the issue-level ratings one notch in conjunction with this upgrade, but left the recovery ratings unchanged.

Albertsons’ senior secured term loan rating was raised to B, the unsecured notes and Safeway notes rating to BB- and the New Albertsons notes rating to B-.

The 2 recovery rating on the Safeway notes was unchanged.

The stable outlook reflects S&P’s expectation that the company’s operating performance will continue to improve in the coming year as the company focuses on elevating its in-store and digital experiences. Liquidity is now considered strong given better cash flow generation, the agency said in a news release.

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