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Beam Inc. Oct 11
Standard & Poors, Oct 2011
Abstract
Portfolio of known spirits brand names; Some geographic diversification; and Relatively stable cash flow generation. Still high debt levels and leveraged financial profile following recent debt tender offers; Profit concentration within brown spirits; The consolidating and competitive nature of the alcoholic beverage industry; and Industry demand that is somewhat susceptible to lingering weak global economic conditions. Deerfield, Ill.-based Beam Inc., formerly known as Fortune Brands Inc., recently completed its planned spin-off of its home and security business. The ratings on Beam reflect Standard & Poor's Ratings Services' opinion of the satisfactory business risk profile of its stand-alone spirits business, which includes a portfolio of known spirits brand names skewed to the less-premium category, some geographic diversification, and the historically relatively...
Companies mentioned in this report are: Beam Inc.
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
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