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Moody’s may downgrade Pernod Ricard over Vin & Sprit

SAN FRANCISCO (MarketWatch) — Moody’s Investors Service said Monday it may downgrade the ratings of Pernod Ricard after the company’s announcement that it would buy Vin & Sprit, owner of the Absolut vodka brand, for 5.28 billion euros, or $8.34 billion. Moody’s has a Baa3/P-3 rating on Pernod. “The review for downgrade reflects the magnitude of this debt-financed transaction which evidences a more aggressive financial policy,” said Yasmina Serghini, a Moody’s analyst, in a statement.
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Original post by Forextvblog

This entry was posted on Monday, March 31st, 2008 at 2:47 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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