Fri Jun 24 2022 - 15:54
S&P on Friday cut the company’s credit rating to B-, warning that “high operating cost inflation” is “pressuring Valeo Foods’ profitability”. The Dublin company, which was itself acquired by Burger King-owner Bain Capital last year, bought Canadian maple syrup brand Bernard in May for roughly €100 million.
S&P analysts said that the “diversity of brands” and the prevalence of “ambient foods” — sometimes called ‘shelf staples’, which include tinned foods, sauces and similar items — in the Valeo stable should insulate the company from price shocks.
Source: Loan Digest (loandigest.net)
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