| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers D > Headlines for Dean Foods Co. > News item |
Fitch: Dean Foods unchanged
Fitch Ratings said the credit ratings and outlook for Dean Foods Co. and Dean Holding Co. will not immediately be affected by the company's proposed initial public offering and tax-free spin-off of its wholly-owned subsidiary, the WhiteWave Foods Co.
The company has an issuer default rating of B, secured bank credit facility rating of BB with a recovery rating of RR1 and senior unsecured debt rating of B- with a recovery rating of RR5.
The outlook is positive.
Dean recently announced its proposed IPO of up to 20% of WhiteWave and subsequent tax-free spin-off of its remaining ownership to Dean's shareholders, Fitch said.
The IPO could occur by the end of 2012, the agency said, but the tax-free spin-off of its remaining ownership interest will occur no earlier than the expiration or waiver of the 180-day lock-up period following the closing of the IPO.
© 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.