S&P places American Seafoods' parent on credit watch, but company says its finances are in order

Credit rating agency Standard & Poor's (S&P) this week placed ASG Parent LLC, the parent company of US pollock giant American Seafoods, on credit watch, saying it is concerned the company could be unable to refinance a term loan and revolving credit financing on satisfactory terms over the next few months.

"While the company's operating performance has been generally in line with expectations, difficult credit market conditions could delay refinancing efforts," S&P analysts Brennan Clark and Chris Johnson wrote in the credit rating update.