SINGAPORE: Credit agency lowers ThaiBev rating

By | 11 April 2013

ThaiBev has its credit rating lowered by Standard & Poors

ThaiBev has its credit rating lowered by Standard & Poor's

Trading in ThaiBev's shares resumed earlier today (11 April), after a credit agency lowered its rating on the group. 

Standand and Poor's dropped its long-term credit rating for the Chang brewer to BBB- from BBB and gave it a negative outlook. ThaiBev had suspended trading in its shares on the Singapore Stock Exchange ahead of the announcement. 

"We lowered our rating on ThaiBev because we expect the company's debt to remain high and its cash flow adequacy to stay weak over the next 24 months following its acquisition of a stake in F&N," said Standard & Poor's credit analyst Xavier Jean.  

Earlier this year, the company  secured a controlling stake in Singapore conglomerate Fraser & Neave after a drawn out battle last year for the group. 

Shares in ThaiBev today closed up by 1.6% at SGD0.63 (US$0.51)

Expert analysis

Beer in Asia-Pacific

Beer in Asia-Pacific industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2006-10, and forecast to 2015). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Asia-Pacific beer market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Sectors: Beer & cider, Soft drinks

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