ConAgra Ratings Under Scrutiny On $5 Bil Ralcorp Deal
Fitch Ratings downgraded ConAgra Foods (CAG), and two other rating agencies are reviewing their assessment of the maker of brands like Banquet and Chef Boyardee over its $5 billion takeover of Ralcorp (RAH) . Fitch cut its rating on ConAgra's long-term debt a peg, to BBB- from BBB, citing concerns about debt associated with the buyout, announced Tuesday. Standard & Poors and Moody's Investors Service said they will review their ratings on the
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