Moody's upgrades Dairy Farmers

Moody's Investors Service said it upgraded the senior unsecured rating of Dairy Farmers of America to Baa1 from Baa2 and affirmed its Prime-2 short-term rating.

Moody's also upgraded the rating on the trust-preferred securities of its guaranteed subsidiaries to Baa2 and the preferred stock to Baa3.

The outlook is stable.

"The upgrade to Baa1 reflects the cooperative's strong credit metrics and its relatively stable operating performance in a volatile pricing environment," Moody's senior analyst Nancy Meadows said in a news release.

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