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Barry Callebaut Upgraded To 'BBB-' On Moderate Financial Policy And Improved Financial Metrics; Outlook Stable Dec 11
Standard & Poors, Dec 2011
Abstract
We think that the improvement in the financial metrics of Switzerland-based chocolate manufacturer Barry Callebaut AG is sustainable, based on the group's track record of a moderate financial policy and stable funds from operations. We are therefore raising our long-term corporate credit and issue ratings on Barry Callebaut to 'BBB-' from 'BB+'. The stable outlook reflects our view that, absent any large mergers or acquisitions, Barry Callebaut will continue to generate positive cash flow from operations and maintain a moderate financial policy. LONDON (Standard & Poor's) Dec. 13, 2011--Standard & Poor's Ratings Services said today that it raised its long-term corporate credit and issue ratings on Switzerland-based chocolate manufacturer Barry Callebaut AG to 'BBB-' from 'BB+'. The outlook is stable....
Companies mentioned in this report are: Barry Callebaut AG,Barry Callebaut Services N.V.
Action: Outlook: Stable
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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