S&P trims Ocean Spray view to negative

S&P said it affirmed its ratings, including the BBB corporate credit rating, on Ocean Spray Cranberries Inc. and revised the outlook to negative from stable.

S&P said the outlook revision reflects weaker-than-expected credit measures primarily as a result of competitive pressures from a key customer. Moreover, Ocean Spray announced on Feb. 3 the acquisition of Atoka Cranberries Inc., which the cooperative will largely finance with debt.

© 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.