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Bacardi Ltd. Upgraded To 'BBB+' As Financial Profile, Credit Measures Improve Aug 11
Standard & Poors, Aug 2011
Abstract
Bermuda-based distilled spirits producer Bacardi Ltd. has continued to improve its financial profile and credit measures. We are raising our long-term corporate credit and senior unsecured debt ratings to 'BBB+' from 'BBB'. The outlook is stable, reflecting our expectation that the company will sustain its credit measures near current levels and maintain its moderate financial policy. NEW YORK (Standard & Poor's) Aug. 5, 2011--Standard & Poor's Ratings Services said today that it raised its ratings on Pembroke, Bermuda-based Bacardi Ltd. by one notch, including its long-term corporate credit rating to 'BBB+' from 'BBB'. At the same time, we affirmed our 'A-2' short-term corporate credit and commercial paper (CP) ratings. The outlook is stable. 'The upgrade reflects Bacardi's sustained, stronger credit...
Companies mentioned in this report are: Bacardi Ltd.,Bacardi-Martini B.V.,Bacardi-Martini Finance B.V,Bacardi Corporation,Bacardi U.S.A., Inc.
Action: Upgraded
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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