Research Update: Barry Callebaut Upgraded To 'BBB-' On Moderate Financial Policy And Improved Financial Metrics; Outlook Stable Dec 11
- Language: English
- Published: December 2011
LONDON (Standard & Poor's) Feb. 25, 2011--Standard & Poor's Ratings Services said today that it has corrected an error relating to its issue and recovery ratings on a -850 million revolving credit facility (RCF), jointly borrowed by Switzerland-based chocolate company Barry Callebaut AG (BB+/Positive/--), and its subsidiary Barry Callebaut Services N.V. The ratings on this RCF were withdrawn on Dec. 31, 2010, due to a data input error because our database had not been updated with the RCF's new maturity dates of 2012 and 2013, when they were extended in 2007. We have corrected the error by reinstating our 'BB+' issue and '4' recovery ratings on the RCF. Our other ratings on Barry Callebaut are unaffected. For further information about...
Companies mentioned in this report are: Barry Callebaut AG
Action: Rating Reinstated
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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Barry Callebaut AG