S&P downgrades Danone's credit rating

Standard & Poor's announced today that it has lowered its credit ratings on French company Danone, based on the projected increased debt due its proposed acquisition of Numico.

The agency lowered the long-term corporate credit and senior unsecured
debt ratings to 'A-' from 'A+', and the ratings have been placed on CreditWatch
pending clarification of Danone's financial policy. Standard & Poor's
ratings downgrade follows a huge company reshuffle, which includes an
€12.3bn offer made for Dutch nutrition group Numico and a sale of its
biscuit division to Kraft.