Barry Callebaut AG Dec 08
Standard & Poors, December 2008
Abstract
Position as leading global chocolate products supplier to the food industry Benefits of the favorable outsourcing trend in the food industry Exposure to commodity price and foreign exchange risks Political event risk in cocoa sourcing countries The ratings on Switzerland-based Barry Callebaut AG reflect its aggressive financial profile, offset to some extent by its enhanced position as the world's largest and sole independent global supplier of cocoa and chocolate products to the food industry. Barry Callebaut's financial profile is currently in line with Standard & Poor's Ratings Services' expectations for the ratings. In fiscal 2008 ended Aug. 31, 2008, the company's adjusted funds from operations (FFO) to debt and adjusted EBITDA fixed-charge coverage were 21% and 4.0x, respectively, against our...
Companies mentioned in this report are: Barry Callebaut AG,Barry Callebaut Services N.V.
Action: Review
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: Full Analysis
Barry Callebaut AG,Barry Callebaut Services N.V.
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