Pilgrim's Pride Gets Last Minute Credit Reprieve

The company released a statement today confirming reports that it's lenders had extended the temporary default waiver until Monday.

The company's stocks surged .48 cents on the news, with shares closing the day at 1.02.

Company press release follows:

PITTSBURG, Texas, Nov. 26 /PRNewswire-FirstCall/ -- Pilgrim's Pride
Corporation (NYSE: PPC) today announced that it has reached an agreement with
its lenders to extend the temporary waiver under its credit facilities through
noon (CT) on December 1, 2008. Pilgrim's Pride continues to pursue
opportunities to refinance and recapitalize its business, and to position
itself to capitalize on its strategic advantages.