S&P affirms Anheuser-Busch

Standard & Poor's said it affirmed Anheuser-Busch InBev NV/SA's BBB+ long-term corporate credit rating, A-2 short-term rating and BBB+ senior unsecured debt rating on the notes issued by Anheuser-Busch Cos. Inc., on completion by InBev of its acquisition of Anheuser-Busch.

The outlook is stable.

The affirmation follows InBev's $52 billion acquisition of Anheuser-Busch.

Ratings reflect the quality of earnings in the businesses owned by the combined group at the parent level, S&P said, as well as its close association with the large and cash-generative subgroup headed by AmBev - Companhia de Bebidas das Americas (BBB/stable, Brazil national scale brAAA/stable).

The agency said it expects a debt-to-EBITDA ratio close to 3x.

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