Tyson Foods Put on CreditWatch Negative

S&P cites lower commodity prices and the uncertainty caused by the discovery of a case of BSE in Canada

On May 21, 2003, Standard & Poor's Ratings Services placed its 'BBB' corporate credit and senior unsecured ratings on leading poultry and beef producer and processor Tyson Foods (TSN ) on CreditWatch with negative implications. At the same time, Tyson's short-term and commercial paper rating was lowered to 'A-3' from 'A-2'. The company's commercial paper rating is not on CreditWatch and Tyson's corporate credit rating will likely remain investment grade following the review.

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