S&P places Kraft Heinz on CreditWatch negative
div > div.group > p:first-child"> Last month, the company wrote down $15.4 billion on its namesake Kraft and Oscar Mayer brands, slashed its dividend and disclosed a subpoena from the SEC. Since that announcement, shares of Kraft Heinz have dropped more than 33 percent.
Executives told investors when they were delivering the bad news that the company is planning to use divestitures to pay down its debt. CNBC has previously reported that it is weighing sales of its Maxwell House coffee brand and its dairy business. The following week, it announced that it would not be able to meet the SEC deadline to file its annual report for fiscal 2018. The SEC granted Kraft Heinz a 15-day extension to file the report, but the company missed the extended deadline Thursday.
The rating agency could lower or affirm its ratings for Kraft Heinz, including its BBB long-term issuer credit rating and A-2 short-term issuer credit rating, after it concludes a review. S&P said that it plans to resolve the CreditWatch after analyzing the annual report once it is filed, in addition to its filing for the first quarter of fiscal 2019.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Kraft Heinz weighs sale of its Breakstone's sour cream and cottage cheese businessKraft Heinz has hired Royal Bank of Canada to review options for its Breakstone's sour cream and cottage cheese business, which could include a sale, people familiar with the situation tell CNBC.
Baca lebih lajut »
Cramer: The disrupters have been the biggest winners — Kraft Heinz take noteJim Cramer talks about why traditional names like Kraft Heinz must be willing to get into cannabis or end up like roadkill.
Baca lebih lajut »
Robert Kraft case reveals how police can secretly install cameras inside a private businessSneak-and-peek warrants allow law enforcement to secretly install cameras inside private businesses to monitor illegal activity.
Baca lebih lajut »
Hidden cameras in Kraft probe shows how police can secretly infiltrate private businessThe investigation that involves Robert Kraft's case shows how police can secretly install hidden cameras inside a private business, a CNBC investigation finds.
Baca lebih lajut »
Patriots owner Robert Kraft: Love and loss marked eccentric life before spa scandalSince the death of his wife, NFL owner Robert Kraft has developed an eccentric public image with his shoes, friends and parties
Baca lebih lajut »
Florida authorities seize almost $200,000 from spa where Robert Kraft allegedly paid for sexual actsAuthorities also froze the bank accounts of Hua Zhang and Lei Wang, owners of Orchids of Asia Spa.
Baca lebih lajut »
How police spent months taking down a spa where Robert Kraft is accused of paying for sexPolice allege New England Patriots owner Robert Kraft spent 53 minutes in two visits to a Florida day spa where they say he paid for sexual services. They say it took them four months of work, inluding stakeouts and secret video surveillance, to bust the parlor.
Baca lebih lajut »
Lawyer for massage parlor owner: Yang is 'living the American dream'Lawyer for Cindy Yang, ex-owner of a massage parlor where Robert Kraft allegedly solicited prostitution, denies Yang has tried to sell access to President Trump.
Baca lebih lajut »