Interbrew's rating has been cut by KBC Securities. The equity house reduced its rating today on the Belgian brewer to "neutral" from "outperform" saying that Interbrew's short-term risks outweigh the opportunities.

The move follows confirmation that Interbrew is in talks with Brazil's AmBev about a major deal, which could lead to a merger. Such a move would make the new company the No. 1 global brewer.