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TEXT-S&P puts Heineken BBB+/A-2 rtgs on watch neg on purchase offer
July 25, 2012 / 11:51 AM / 5 years ago

TEXT-S&P puts Heineken BBB+/A-2 rtgs on watch neg on purchase offer

(The following statement was released by the rating agency)

July 25 -

Overview

-- 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.

Rating Action

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.

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