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Stock Market & Financial Investment News

News Breaks
December 3, 2012
18:33 EDTDFFitch: Dean Foods' ratings not immediately affected by Morningstar sale
Dean Foods company's credit ratings and Positive Rating Watch will not be immediately impacted by the firm's announcement to sell its Morningstar Foods division. Fitch upgraded Dean's ratings on Nov. 5 due to the firm's reduced financial leverage, improved credit profile, and increased profitability at its Fresh Dairy Direct operations. Fitch also placed Dean's ratings on Watch Positive due to Fitch's view that further deleveraging was possible following the spin-off and potential divestiture of Morningstar. Dean's issuer default rating could be upgraded to the 'BB' range following the closing of the Morningstar transaction, due to the firm's significantly reduced leverage.
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