Moody’s Investors Service has upgraded its ratings outlook for Campbell Soup Company
to positive from stable.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The credit ratings, research and risk analysis specialist also affirmed its long-term rating on Campbell at A3 and its short-term rating at Prime-2 following Campbell’s announcement that it had completed the sale of its UK/Ireland businesses, with the proceeds being used primarily to repurchase shares.
Moody’s said the positive ratings outlook reflects its view that, “despite the announced share repurchases, Campbell could sustain a profile of stable operating performance and modest debt reduction that is commensurate with a one notch upgrade provided it continues to strike a balance between shareholder and bondholder interests”.
