OREANDA-NEWS. Fitch Ratings has affirmed Ocean Spray Cranberries, Inc.'s (Ocean Spray) Issuer Default Rating (IDR) at 'BBB-'. The Rating Outlook has been revised to Positive from Stable.

The Outlook revision to Positive reflects Ocean Spray's lower than expected leverage for fiscal 2016, a reduction in cash distribution to its members, improved alignment of grower-owner payment schedules to pool earnings, a decline in capital spending and stable profitability supported by a strengthening in gross margins. Consequently, Fitch believes Ocean Spray will generate cash flow that can be used for debt reduction to further strengthen the credit profile over the rating horizon.