NASH FINCH PROJECTS HIGHER PROFITS BUT LOWER SALES; NOTES IN DEFAULT

MINNEAPOLIS -- Nash Finch here said it has been notified that it is in technical default on $165 million in notes because it has not filed certain financial reports. The retailer/wholesaler also released preliminary financial results for fiscal 2002 that showed a gain in profitability but a decline in sales for the year.Standard & Poor's Ratings Services, Moody's Investors Service and Fitch Ratings

MINNEAPOLIS -- Nash Finch here said it has been notified that it is in technical default on $165 million in notes because it has not filed certain financial reports. The retailer/wholesaler also released preliminary financial results for fiscal 2002 that showed a gain in profitability but a decline in sales for the year.

Standard & Poor's Ratings Services, Moody's Investors Service and Fitch Ratings all lowered their ratings on the company's debt, citing weakness in the company's

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