S&P changes Ferrara Candy to stable

Standard & Poor's said it affirmed all ratings on Ferrara Candy Co., including the B corporate credit rating, and revised the outlook to stable from negative.

The issue-level rating on the company's senior secured term loan facility remains B, with a recovery rating of 4, indicating that lenders could expect average recovery (at the low end of the 30% to 50% range) in the event of a payment default.

"The outlook revision to stable reflects our expectation that operating performance and cash flow ratios will improve following a period of significant investment in restructuring the business," S&P credit analyst Kim Logan said in a news release.

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