Fitch Upgrades Dole's IDR to 'B+'; Outlook Positive MarketWatch (press release)
CHICAGO, Aug 19, 2011 (BUSINESS WIRE) -- Fitch Ratings has upgraded the following ratings of Dole Food Co., Inc. (Dole; NYSE DOLE) and its wholly-owned subsidiary Solvest Ltd.
Dole (Operating Company)
--Long-term Issuer Default Rating (IDR) to 'B+' from 'B';
--Asset-based (ABL) revolver due 2016 to 'BB+/RR1' from 'BB/RR1';
--Secured term loan B due 2018 to 'BB+/RR1' from 'BB/RR1';
--13.875% third-lien notes due 2014 to 'BB/RR2' from 'BB-/RR2';
--8% third-lien notes due 2016 to 'BB/RR2' from 'BB-/RR2'.
Solvest Ltd. (Bermuda-Based Subsidiary)
--Long-term IDR to 'B+' from 'B';
--Secured term loan C due 2018 to 'BB+/RR1' from 'BB/RR1'.
Additionally, Fitch has affirmed the following rating:
Dole (Operating Company)
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