(The following statement was released by the rating agency)
July 25 -
-- On July 20, 2012, Heineken N.V. announced its offer to acquire the stake of its joint-venture partner Fraser & Neave in Asia Pacific Breweries Ltd.
-- We are placing our 'BBB+/A-2' long- and short-term ratings on Heineken on CreditWatch negative.
-- The CreditWatch placement reflects our view that the debt-funded acquisition would weaken the group's credit metrics, despite further supporting Heineken's strong business risk profile.
On July 25, 2012, Standard & Poor's Ratings Services placed its 'BBB+/A-2' long-term and short-term corporate credit ratings on Heineken N.V. on CreditWatch with negative implications.