-- U.S.-based Chiquita Brands International Inc.'s
lower-than-expected first-quarter 2012 operating results reflect a combination
of factors,
including lower banana prices, lower salad sales volumes, and higher fuel
costs.
-- We believe there is the potential for weaker operating performance to
continue through 2012, which could pressure Chiquita's cushion on its
financial covenants.
-- We are revising our rating outlook to negative from stable, and
affirmi
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