Dean Foods Company -- Moody's lowers Dean Foods CFR to B1; upgrades secured debt to Ba2 and confirms other debt ratings
New York, January 04, 2013 -- Moody's Investors Service today lowered Dean Foods Company's ("Dean") Corporate Family and Probability of Default Ratings to B1 from Ba3. At the same time Moody's upgraded the rating for Dean's senior secured credit facility to Ba2 from Ba3, while unsecured debt ratings were confirmed at B2. The company's SGL-2 Speculative Grade Liquidity rating remains unchanged. The rating outlook is stable. The new ratings reflect Dean's business and financial position post the completion of the planned spinoff of most of its remaining interest in WhiteWave to shareholders, as well as the sale of Morningstar which closed yesterday.