Downgrade brewing for S&N

News

Standard & Poor’s may downgrade the credit rating of UK brewer Scottish & Newcastle following the firm’s acquisition of cider maker Bulmer and Portuguese brewer Sociedade Central de Cervejas. The BBB+ rated firm is paying £278 million (€386m) for Bulmer in a cash and share offer, and €429 million for Sociedade in a debt-financed takeover. Scottish & Newcastle will also assume €87 million of Sociedade’s debt.

The rating action serves to remind investors that in the consumers sector, credit q

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: