S&P: Bacardi view to positive

Standard & Poor's said it revised the outlook on Bacardi Ltd. to positive from stable, and affirmed its BBB long-term corporate credit rating. The agency also said it assigned an A-2 commercial paper rating to its new multi-currency $1 billion global commercial paper program. Under the program, commercial paper may also be issued by Bacardi Corp., Bacardi U.S.A., Inc., Bacardi-Martini BV and Bacardi-Martini Finance BV and will be guaranteed by Bacardi Ltd.

The outlook is positive.

The outlook revision reflects a belief that despite lingering weak macroeconomic conditions, Bacardi will continue to improve its financial profile and credit measures in the near-to-intermediate term, S&P said.

The ratings consider the company's strong business profile, which benefits from leading positions in key categories of the distilled spirits market, geographic diversity that has historically resulted in relatively stable cash flows and the company's intermediate financial policies, the agency said.

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