Standard & Poor’s Ratings Services - one of the world’s most respected sources of information on investment research, advice and data - announced this week that they will review their rating of Tupperware Brands Corp (NYSE: TUP) for a potential upgrade.
S&P had given Tupperware a “BB,” rating, which mean that, according to the S&P guide to ratings, ‘positive attributes exist, but adverse business conditions could lead to insufficient ability to meet financial commitments.’ The BB rating is a non-investment grade rating.
Since giving out the BB rating, S&P feels that Tupperware has improved its business operations and the company’s debt has been reduced during the past few quarters.
Tupperware revenue has gone up almost 19% in the first quarter of 08. Tupperware will announce second quarter results at the end of July. No word yet on when S&P will revise its decision, although upon announcement of the news, stock went up 40 cents.
In related news, Jim Cramer of Mad Money recommended Tupperware (NYSE: TUP) as a buy: “I’m shocked that Tupperware is down as much as it is. I want to buy Tupperware. I think it’s right.”
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[...] that they crossed the $3B sales mark which is truly amazing and the S&P began a review of Tupperware’s stock based on its new rating but Mad Money’s Jim Cramer think the stock is a buy at this [...]
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