S&P rates Bacardi notes BBB

Standard & Poor's said it assigned a BBB senior debt rating to Bacardi Ltd.'s (BBB/positive/A-2) $300 million senior notes due 2021, issued under Rule 144A without registration rights.

Proceeds will be used for the repayment of debt and for general corporate purposes.

The corporate credit rating reflects the company's strong business profile, which benefits from leading positions in key categories of the distilled spirits market, geographic diversity that has historically resulted in relatively stable cash flows and the company's intermediate financial policies, S&P said.

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