Moody’s upgrades Pernod Ricard

Moody’s Investors Service said it upgraded to Baa1 from Baa2 the long-term issuer and senior unsecured ratings of Pernod Ricard SA.

“The upgrade to Baa1 reflects Pernod’s track record of strong profit growth, resulting from steady sales growth, positive product mix and efficiency gains, which have translated into improved credit metrics and reduced leverage,” said Ernesto Bisagno, a Moody’s vice president, senior credit officer and lead analyst for Pernod Ricard, in a press release.

The outlook is stable.

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