S&P Downgrades Whole Foods

NEW YORK — Standard & Poor’s here on Friday docked Whole Foods Markets one notch in its corporate credit rating, citing its declining expectations of profitability and performance in 2009. S&P cut its rating to BB- from BB. “The downgrade reflects our expectation that profitability and credit metrics will most likely be unchanged in the next year,” said Standard & Poor’s credit analyst Charles Pinson-Rose in a statement. “Previously, we contemplated that profitability and credit metrics would improve in 2009.”

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