Ocean Spray Downgraded; Needs to Cut Payments to Growers, Says S&P

Ocean Spray Cranberries, which operated as an agricultural co-operative, was downgraded by Standard & Poor’s on Wednesday. The main reason is that the company is paying out too much to its members to be able to reduce its debt levels. S&P continues to have a negative outlook on the credit. S&P analyst Stephanie Harter lowered her [...]