S&P puts Wrigley on positive watch

Standard & Poor's said it placed its ratings, including the BBB+ corporate credit rating, on Wm. Wrigley Jr. Co. on CreditWatch with positive implications.

S&P said the placement reflects its intention to review the group credit profile of Wrigley's majority owner, Mars Inc., following its improved financial performance and the announced acquisition of certain pet food brands from Procter & Gamble.

The agency currently assesses Wrigley as a "highly strategic" subsidiary to Mars. Therefore, a higher group credit profile could lead to an upgrade of Wrigley.

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