S&P lifts Ocean Spray to stable

S&P said it affirmed all of the ratings on Ocean Spray Cranberries Inc., including the BBB corporate credit rating.

The agency also said it revised the company’s outlook to stable.

The ratings and outlook revision reflects an expectation that Ocean Spray will improve its debt-to-EBITDA to less than 2.5x and generate positive discretionary cash flow, S&P said.

Ocean Spray benefits from solid market positions, improving product, geographic and channel expansion, the agency said, and the above-average returns that it provides for its cooperative-member growers.

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