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Moody's revises ratings on Smart Balance to stable
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NEW YORK - Moody's Investors Service said Thursday it revised ratings on Smart Balance Inc., which makes butter-like spreads, to "stable" from "negative."
Moody's said this change reflects improved financial flexibility from a new credit facility. Moody's also expects stable earnings and cash flow from Smart Balance as it rolls out new products.
The service also withdrew all ratings of Smart Balance, including its "B1" corporate family rating, since all the rated bank credit facilities were repaid in the recent refinancing transaction.
Shares rose 14 cents, or 2.9 percent, to close at $5.02.
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