S&P and Moody’s Downgrade Hormel Foods Following $1.05B Acquisition

Key Facts

1S&P and Moody’s downgraded Hormel Foods' credit rating following its $1.05 billion acquisition of Brakebush.

S&P and Moody’s downgraded Hormel Foods' credit rating following its $1.05 billion acquisition of Brakebush. Reuters reported that the downgrade reflects concerns over increased leverage and debt levels associated with financing the transaction.

HRL closed at $19.85 on September 29, 2026, after reaching a day high of $19.95 and a low of $19.57. The credit downgrade typically increases borrowing costs and reflects higher financial risk, though the impact is moderated by the strategic nature of the acquisition.