Fitch has assigned ratings to Del Monte Foods Co. (Del Monte) as follows: bank debt 'BB-', senior subordinated notes 'B' and senior discount notes 'B-'. The Rating Outlook is Stable. Del Monte Foods Co. has approximately $632 million of debt outstanding. Del Monte competes in the processed vegetable, processed fruit and processed tomatoes sector, which is stable, mature and characterized by slow growth and lower margins relative to other package food companies.