Fitch Affirms Premier Foods Rating on Capital Structure, Market Position

Fitch Ratings affirmed the BB+ long-term issuer default rating of Premier Foods (PFD.L), citing the company's "conservative" capital structure and "solid" market position. In a note on Monday, the rating agency said the British food manufacturer also benefits from its moderate scale and limited geographic diversification. The outlook on the rating is stable, reflecting expectations that the company will be able to refinance its outstanding notes in October, alongside Fitch's forecast of the group delivering "resilient" topline growth and EBITDA profitability.