Fitch upgrades Pernod Ricard

Fitch Ratings said it upgraded Pernod Ricard SA’s long-term issuer default rating and senior unsecured rating to BBB+ from BBB.

“The rating upgrade reflects Fitch’s expectation that the alcoholic drinks company will maintain its leverage consistent with a high BBB category despite having moved to more shareholder-friendly financial policies, including the announcement of a €1 billion share buyback,” said Fitch in a press release.

The outlook is stable.

© 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.