S&P gives Pernod Ricard green notes BBB+

S&P said it gave BBB+ long-term issue ratings to Pernod Ricard SA's to €1.1 billion of new senior unsecured notes. The notes come with sustainability-linked features. The sustainability targets include reducing the group's greenhouse gas emissions (Scopes 1 and 2) by at least 26% and water consumption by at least 12.5% by 2025, from the 2018 base levels.

The issuer sold €600 million of six-year 3.25% fixed-rate coupon notes due November 2028 and €500 million of 10-year 3.75% fixed-rate coupon notes due November 2032.

“The BBB+ rating on the notes is in line with the long-term issuer credit rating on Pernod Ricard,” S&P said in a press release. The notes were issued from the company's €7 billion euro medium-term note program.

The proceeds will be used for general corporate purposes.

The outlook is stable.

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