Moody’s rates Asahi bonds Baa2

Moody's Japan K.K. said it assigned a Baa2 senior unsecured rating to the bonds issued by Asahi Group Holdings, Ltd.

The specific bond issuances are €600 million bonds due 2021 and €600 million bonds due 2025.

The outlook is stable.

The bond rating is equalized with that of Asahi's Baa2 issuer rating, based on the very limited proportion of secured debt, which minimizes the subordination to be reflected in the senior unsecured rating, Moody’s explained.

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