S&P trims Bacardi view to stable

Standard & Poor’s said it affirmed its ratings on Bacardi Ltd., including its BBB+ long-term corporate credit and senior unsecured debt ratings and A-2 short-term corporate credit and commercial paper ratings.

S&P also revised the outlook to stable from positive.

The outlook revision reflects S&P’s expectations that Bacardi’s leverage will remain around 2.2x and its ratio of funds from operations to debt will remain about 35% to 36%, versus S&P’s earlier view that leverage could approach between 1.5x to 2.0x and FFO to debt could go above 45% by fiscal 2015, the agency said.

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