Moody’s changes Asahi Group to positive

Moody's Japan K.K. said it affirmed the Baa2 long-term issuer rating and senior unsecured ratings of Asahi Group Holdings, Ltd. and revised the outlook to positive from stable.

"Asahi is reducing debt faster than our expectations," Moody's vice president and senior credit officer Motoki Yanase said in a news release.

During 2017, Asahi announced a series of asset sales, including its stake in its Chinese non-alcoholic beverage joint venture, an about 20% stake in Tsingtao Brewery in China, and its stake in an Indonesian non-alcoholic beverage joint venture, the agency noted.

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