Merisant Company, a leading global producer of tabletop sweeteners, today announced that leading credit agency Standard & Poor's Ratings Services raised its corporate credit rating to 'B' from 'B-,' citing continued progress for the company.
"The improvement in our credit rating reflects the success of our business restructuring and our innovations in the sweetener category to expand our business. I am especially proud of our employees' tremendous effort to drive our results," said Paul Block, Merisant CEO. "As we further diversify our strong brands like Equal, Canderel and Pure Via across the world, we will continue to focus on profitability, steady revenue growth and increasing market share while substantially reducing debt. The increase in cash flow allows for more investment and allocation of discretionary marketing in key countries around the world."
S&P cited continued debt reduction, maintenance of adequate liquidity and improved topline growth in its ratings change.
Explained Julie Wool, vice president and chief financial officer, Merisant, "In fiscal year 2011, Merisant continued to strengthen the balance sheet by focusing on reducing our term loan debt well below $100 million, while increasing revenue in part through growth of our strategic initiatives overseas."
About Merisant
Merisant is a worldwide leader in the marketing of low-calorie tabletop sweeteners. In addition to Equal® and Canderel®, Merisant markets its products under 18 other brands in over 100 countries. For more information visit www.merisant.com.
Note to editors: Equal® and Canderel® are registered trademarks of Merisant Company. PureVia™ is a trademark of Whole Earth Sweetener Company LLC, a wholly owned subsidiary of Merisant Company. PureVia™ is a trademark of PepsiCo, Inc. in beverages and certain other food products.
Contacts:
Edelman
Joe Poulos
(312) 240-2719