Fitch: No change for Diageo

Fitch Ratings said Diageo plc's long-term issuer default rating of A- is unaffected by its increasing control of Sichuan Shui Jing Fang Co., Ltd.

The outlook is stable.

Through an increase of in ownership, Diageo would be able to consolidate ShuiJingFang's accounts and be in a position to achieve operational integration with its own Western-style spirits business, Fitch said.

The transaction enhances Diageo's growth platform and complements its current presence in the premium end of the Chinese spirits market, the agency said.

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