CANADA: DBRS downgrades Allied over fears of debt and competition

By Chris Brook-Carter | 8 June 2001

DBRS, the Canadian credit rating agency, has downgraded the commercial paper rating for Allied Domecq Canada, based upon the parent company, to R-1 (low), despite saying that Allied has made "positive strides in transitioning its business over the past few years". DBRS said that the downgrade reflected concerns that Allied has "pursued and is expected to continue to pursue select acquisitions that may singularly or in aggregate, raise debt levels and weaken the balance sheet".

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DBRS, the Canadian credit rating agency, has downgraded the commercial paper rating for Allied Domecq Canada, based upon the parent company, to R-1 (low), despite saying that Allied has made "positive strides in transitioning its business over the past few years". DBRS said that the downgrade reflected concerns that Allied has "pursued and is expected to continue to pursue select acquisitions that may singularly or in aggregate, raise debt levels and weaken the balance sheet".

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