Fitch: AmBev view positive

Fitch Ratings said it affirmed Companhia de Bebidas das Americas SA's (AmBev) foreign-currency long-term issuer default rating at BBB, local-currency long-term issuer default rating at BBB and unsecured notes due 2011, 2013 and 2017 at BBB.

The outlook was revised to positive from negative.

The agency also said it affirmed its national scale ratings at AAA(bra) and local senior unsecured notes at AAA(bra) and revised the company's national scale outlook to stable from negative.

The outlook revision to positive reflects AmBev's strong linkage with Anheuser-Busch InBev's credit quality, Fitch said.

It takes into consideration the company's successful execution of its deleveraging plan, which was the result of more than $7 billion of asset sales and the generation of more than $6 billion of free cash flow, the agency said.

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