Fitch changes Ocean Spray to stable

Fitch Ratings said it affirmed Ocean Spray Cranberries, Inc.'s issuer default rating at BBB- and revised the outlook to stable from positive.

Fitch said the affirmation and the outlook revision reflect its expectations for moderately higher leverage (total adjusted debt/adjusted EBITDAR) adjusted for cranberry cost of goods sold (COGS) in the low 3 times range due in part to the Atoka Cranberries Inc. acquisition versus the agency’s prior expectation of leverage being sustained in the 2.7 times to 2.8 times range.

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