TEXT-S&P revises Chiquita Brands outlook to negative
Posted on May 18, 2012 at 12:07 PM EDT
Overview -- U.S.-based Chiquita Brands International Inc.'s lower-than-expected first-quarter 2012 operating results reflect a combination of factors, including lower banana prices, lower salad sales volumes, and higher fuel costs. -- We believe there is the potential for weaker operating performance to continue through 2012, which could pressure Chiquita's cushion on its financial covenants. -- We are revising our rating outlook to negative from stable, and affirmi
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