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BRIEF-Moody's says rising raw material costs to erode UK packaged food companies' credit quality into 2018
June 22, 2017 / 4:03 PM / 3 months ago

BRIEF-Moody's says rising raw material costs to erode UK packaged food companies' credit quality into 2018

June 22 (Reuters) - Moody‘s:

* Moody’s says rising raw material costs to erode UK packaged food companies’ profitability, credit quality into 2018

* Moody’s says UK food suppliers will need to offset inflation through change in pack sizes, product reformulation or cost savings

* Moody’s says rising raw material costs will have less impact on the UK poultry business of Moy Park Holdings (Europe) Limited and Boparan

* Moody’s says UK packaged food companies’ credit quality could deteriorate on back of weaker profitability and potentially lead to rating downgrades

* Moody's on UK packaged food cos - Rising inflation to hit customers' disposable incomes, potentially curbing demand; overall sales volumes may remain stable Source text: (bit.ly/2sYF1EP)

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