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Barry Callebaut 'BB+' Ratings Affirmed On Restructuring Announcement; Outlook Stable Jul 05
Standard & Poors, July 2005
Abstract
LONDON (Standard & Poor's) July 8, 2005--Standard & Poor's Ratings Services said today it affirmed its 'BB+' long-term corporate credit ratings on Switzerland-based cocoa and chocolate products supplier Barry Callebaut AG and its Belgian subsidiary Barry Callebaut Services N.V. The outlook remains stable. At the same time, Standard & Poor's assigned its 'BB+' long-term senior unsecured bank loan rating to Barry Callebaut's proposed -740 million credit facility, which is currently fully repayable in 2010. 'The affirmation follows an announcement by Barry Callebaut that it will initiate a restructuring in its Consumer Products Europe division, which is currently underperforming largely due to the continuing difficult retailing market in Germany,' said Standard & Poor's credit analyst Sunita Kara. 'Although the group's credit-protection...
Companies mentioned in this report are: Barry Callebaut AG,Barry Callebaut Services N.V.
Action: Affirmed
Action: Outlook: Stable
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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