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Bulletin: Ratings On International Brewer SABMiller Unaffected By Bid For Foster's Group Jun 11
Standard & Poors, June 2011
Abstract
LONDON (Standard & Poor's) June 21, 2011--Standard & Poor's Ratings Services said today that its ratings and outlook on SABMiller PLC (BBB+/Stable/A-2), an international brewer incorporated in the U.K., are unaffected by today's announcement that the group has entered into preliminary discussions to acquire Australia-based producer and distributor of alcoholic beverages Foster's Group Ltd. (BBB/Stable/A-2). We understand that this transaction is likely to be fully debt-funded. Although it's not clear at present what the final acquisition price might be, we have used acquisition multiples from comparable transactions in our analysis. This fundamental assumption might cause us to review our rating opinion once a firmly priced bid is announced. We anticipate that, if the transaction goes ahead, SABMiller's ratio of debt...
Companies mentioned in this report are: SABMiller PLC
Action: Bulletin
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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