Pilgrim's Pride (PPC) Declares $5.77 Special Dividend; 18.3% Yield

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Go back to Pilgrim's Pride (PPC) Declares $5.77 Special Dividend; 18.3% Yield

Pilgrim's Pride (PPC) Ratings Affirmed by S&P Following Special Dividend

January 15, 2015 5:28 PM EST

Standard & Poor's Ratings Services affirmed its corporate credit rating on Pilgrim's Pride Corp. (NYSE: PPC) at 'BB'. The outlook is positive.

We also affirmed the issue-level rating on the company's senior secured $700 million revolving credit facility at 'BBB-'. The recovery rating is unchanged at '1', indicating our expectation for very high recovery (90%-100%) in the event of a payment default.

We are also assigning a 'BBB-' issue-level... More