Fitch affirms Asahi Breweries

Fitch Ratings said it affirmed Asahi Breweries, Ltd.'s long-term foreign and local currency issuer default ratings at A-.

The outlook is stable.

The agency said it has also affirmed Asahi's senior unsecured ratings at A- and its short-term foreign and local currency issuer default ratings at F2.

"Asahi's ratings are supported by its strong market position in Japan's beer and soft drinks market, especially in the regular beer segment, as well as its conservative financial profile," said Ying Wang, director in Fitch's Asia-Pacific corporates team.

"We believe rating the company one-notch below Kirin Holdings Co. Ltd. (A/stable) can be justified given Asahi's smaller operating scale, lack of geographic diversification, and relatively weak performance in the fast-growing third-category beer segment," added Ms. Wang.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.