S&P Upgrades Chiquita's Rating
Stock quotes in this article:
CQB
NEW YORK (AP) — Standard & Poor's Ratings Services on Thursday raised its ratings on Chiquita Brands International Inc. based on the company's improved performance and financial picture.
S&P raised its corporate credit rating on Cincinnati, Ohio-based Chiquita Brands one notch to "B'' from "B-". The outlook is stable. While the company is in the volatile fresh foods business, S&P said the company's has maintained a solid cash position, given stronger salads and banana profitability and debt repayment. The company has about $695 million of debt outstanding as of June 30. Standard & Poor's credit analyst Alison Sullivan said Chiquita's credit measures are likely to continue to improve.- Loading Comments...
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