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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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Michael Johnson, Herbalife’s Chairman and CEO, took a big step today by going on Jim Cramer’s Mad Money show this afternoon.

Cramer, who is known for putting CEO’s to task, didnt hold back with Johnson at all. First Cramer asked about the Probert resignation which he answered and said it was a sad day. He even mentioned “FDI” aka Fraud Discovery Institute but never mentioned Mankow by name or the full name of the organization which was brilliant.

When asked about the lead issue, Johnson said that everything has been tested and that the issue is a non-issue. Even when asked about the Spanish Ministry claim, Johnson didn’t duck at all and said it was based on a article from 2004 and they have dealt with it. He also mentioned that not a single Herbalife product has been pulled anywhere in the world.

Johnson did great. He answered every question, didnt flinch and came across incredibly professional as he usually does. He was very impressive in defending both the allegations as well as the question about potentially taking the company private. Cramer even suggested that may be the best course of action to which it seemed Johnson seems like they have discussed it internally but doesnt seem like that is happening too quickly.

Big kudos for Johnson who was in NYC at the Avondale Conference today, for going on Cramer’s. You have to respect the guy for meeting the issue head on and addressing it using a national platform. Great job!

You can see the full video here which is worth a look.

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Jim Cramer host of the CNBC show, Mad Money, once again welcomed Michael Johnson, Chairman and CEO of Herbalife (HLF) to the show Tuesday night, February 26th. This was Johnson’s second appearance in only six months. With Herbalife’s solid growth over the last year Cramer was interested in discussing with him how the economy has or has not affected the company. Sales in North America alone are up almost 20 percent while sales throughout the rest of the world, are even stronger with a 50% rise in sales in South America and a staggering 145% in China. This story coincides with our recent review of publicly traded network marketing stocks where Herbalife was one of the few positive standouts in the sector.

Johnson attributes the company’s success to the high standard of quality and care that go into the making of each product, as well as a motivated distribution sales force. Johnson wanted to stress the fact that Herbalife has done well in most economic situations, and he feels that the big guns on Wall Street might want to re-evaluate their opinion on the direct sales industry. Cramer ended the segment with a big compliment, praising Herbalife, and saying, “Johnson Is Money”.

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