S&P puts Ocean Spray on negative watch

Standard & Poor’s said it placed Ocean Spray Cranberries Inc.’s BBB+ corporate credit rating on CreditWatch with negative implications.

The agency also said it removed Ocean Spray from “under criteria observation.”

The agency said it will assess Ocean Spray’s financial risk profile after making certain adjustments to cost of sales for cranberries, which the company markets on behalf of its farmer owners.

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