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NEW YORK - Supervalu may look for in-market acquisition opportunities, but it plans to utilize free cash flow primarily to pay down debt and work the company back to investment-grade status, Jeff Noddle, chairman and chief executive officer, told an investors meeting here last week."That's our first priority," Noddle said at the Retail and Consumer Conference sponsored by Credit Suisse First Boston

NEW YORK - Supervalu may look for in-market acquisition opportunities, but it plans to utilize free cash flow primarily to pay down debt and work the company back to investment-grade status, Jeff Noddle, chairman and chief executive officer, told an investors meeting here last week.

"That's our first priority," Noddle said at the Retail and Consumer Conference sponsored by Credit Suisse First Boston here.

While he did not rule out the possibility of major acquisitions over the

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