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Premier Foods PLC - St Albans, England-based food manufacturer and owner of grands such as Bisto, Sharwood's and Mr Kipling - Wins a corporate family rating upgrade from Moody's. The New York-based financial services company upgrades its rating to Ba3 from B1 and its probability of default rating to Ba3-PD from B1-PD. Also changes its outlook to stable from positive.
Moody's says the upgrade reflects the company's "resilient performance" in the year ending March 31 in the context of rising input costs and supply chain frictions.
Current stock price: 120.80 pence
12-month change: up 11%
By Heather Rydings; heatherrydings@alliancenews.com
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