AUSTRALIA: Southcorp plays down S&P downgrade
By just-drinks.com editorial team | 2 June 2003
The troubled Australian wine group, Southcorp, has said that Standard & Poor's widely predicted move to cut its corporate rating and guaranteed debt issues ratings on the company would have no impact on its banking covenants and only a "minor impact" on its cost of borrowings.
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The troubled Australian wine group, Southcorp, has said that Standard & Poor's widely predicted move to cut its corporate rating and guaranteed debt issues ratings on the company would have no impact on its banking covenants and only a "minor impact" on its cost of borrowings.
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