S&P: Dairy Farmers unchanged after upsizing

Standard & Poor’s said the A-2 short-term corporate credit and commercial-paper rating on Dairy Farmers of America Inc. are unchanged following an upsizing to its now $650 million commercial-paper program.

The program is backed by the company’s $650 million revolving credit facility due in October 2019.

As the leading dairy cooperative in the United States, Dairy Farmers benefits from a strong market position and a diverse portfolio of products and brand names, S&P said.

Still, its geographical diversification is limited, the agency said, and its exposure to U.S. dairy industry conditions can lead to earnings volatility.

© 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.