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S&P lifts Whole Foods
Standard & Poor's said it raised its corporate credit rating on Whole Foods Market Inc. to BBB- from BB+. The outlook is stable.
The agency said the rating action comes after Whole Foods' strong operating trends. Its EBITDA growth over the past year of about 21% has been somewhat better than S&P anticipated and has enhanced credit protection measures meaningfully.
"Given our operating forecast, we anticipate further improvement," said S&P credit analyst Charles Pinson-Rose in a news release.
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