Moody's has lowered its long-term rating of Anheuser-Busch to A2 from A1 following a review of the US brewer.

The downgrade is a result of the Missouri-based brewer announcing a more aggressive financial policy, including a 100m share repurchase programme, the analyst said. However, Moody's expects A-B to maintain its strong leadership position in the US beer operations and continue to generate large, stable cash flows.

Moody's also affirmed A-B's Prime-1 short term rating, and posted its rating outlook as stable.