Fitch Credit Update on Albertson's and Supervalu.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has published updated credit analysis reports on Albertson's Inc. (Albertson's) and SUPERVALU, INC. (Supervalu), available at www.fitchratings.com. Fitch's issuer default ratings (IDRs) for both Albertson's and Supervalu are both 'BBB.' On Oct. 5, 2005, Fitch fitch: see polecat. placed the respective ratings of both companies on Rating Watch Negative, following the announcement that Supervalu would acquire 1,124 stores and related operations from Albertson's. The Negative Rating Watch reflects the expected increase in leverage and risks associated with completing a transaction of this size. Fitch's ratings will consider the ability of Supervalu to successfully integrate the acquired stores in what will become a significantly larger company, and create a strategy to address the high levels of competition in the supermarket industry. Updated financial and debt data is provided in the reports, as well as a discussion of recent developments with both companies. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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