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S&P ups Dean Foods to stable
Standard & Poor's said it revised its outlook on Dean Foods Co. to stable from negative.
At the same time, the agency said it affirmed its B+ corporate credit rating, BB- senior secured rating and B- senior unsecured rating on the company.
"The outlook revision is based on Dean Foods' improved EBITDA cushion on its financial covenants following debt reduction in 2011 and our view of some recent improvements in dairy processor industry conditions and Dean Foods' operating results," said S&P credit analyst Jeffrey Burian in a news release.
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