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Barry Callebaut Outlook Revised To Positive On Signs Of Sustainably Improving Financial Profile; 'BB+' Rating Affirmed Feb 11
Standard & Poors, Feb 2011
Abstract
After the end of Barry Callebaut's capacity extension cycle in 2009, its financial metrics now exceed the levels we consider adequate for the current ratings. The absence of larger capacity extension and external growth should further support improving financial metrics, mitigating the impact of high and volatile commodity prices. Consequently, we are revising the outlook for Barry Callebaut's ratings to positive from stable and affirming the 'BB+' long-term rating. LONDON (Standard & Poor's) Feb. 14, 2011--Standard & Poor's Ratings Services revised its outlook on Switzerland-based cocoa supplier and processor Barry Callebaut AG to positive from stable, due to an ongoing trend of improving financial metrics and resilient positive free cash flow generation, despite the recent price hikes for cocoa, sugar,...
Companies mentioned in this report are: Barry Callebaut AG,Barry Callebaut Services N.V.
Action: Affirmed
Action: Outlook: Positive
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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