Moody's: Imperial Tobacco view stable

Moody's Investors Service said it changed the outlook on the Baa3 long-term rating of Imperial Tobacco Group plc and its guaranteed subsidiaries to stable from positive.

Concurrently, the agency affirmed these ratings.

"Our decision to stabilize the outlook reflects Imperial's weaker-than-expected operating performance in fiscal year 2013, as well as our expectation that the group will find it difficult to achieve the guidance we set for a possible upgrade within the next six to 12 months," Paolo Leschiutta Moody's vice president, senior credit officer and lead analyst for Imperial, said in a news release.

"Nonetheless, we recognize the stability in both the business and financial profiles of the group in recent years. Moreover, we continue to view Imperial's ratings as being solidly positioned in the rating category."

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