Thai Beverage Public Co. Ltd. 'BBB' Rating Placed On CreditWatch Negative On Proposed Acquisition Jul 12

Standard & Poors, July 2012

Abstract
Thai Bev intends to acquire a stake in Singapore-based conglomerate F&N using debt. The acquisition will weaken the Thailand-based beverage company's financial risk profile, in our opinion. We do not expect Thai Bev's business risk profile to significantly improve over the 24 months following the acquisition. We are placing our 'BBB' long-term corporate credit rating and 'axA' ASEAN regional scale rating on Thai Bev on CreditWatch with negative implications. SINGAPORE (Standard & Poor's) July 19, 2012--Standard & Poor's Ratings Services said today that it had placed its 'BBB' long-term corporate credit rating on Thailand-based beverage manufacturer Thai Beverage Public Co. Ltd. (Thai Bev) on CreditWatch with negative implications. At the same time, we placed our 'axA' ASEAN regional scale rating...

Companies mentioned in this report are: Thai Beverage Public Co. Ltd.
Action: Outlook: Negative

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.

Thai Beverage Public Co. Ltd.

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