Moody's upgrades Heineken

Moody's Investors Service said it upgraded Heineken NV's long-term issuer and senior unsecured ratings to A3 from Baa1. Concurrently, Moody's raised the company's senior unsecured MTN program rating to (P)A3 from (P)Baa1.

"The long-term ratings upgrade reflects the company's strong track record in maintaining a conservative financial policy while progressively improving its business profile and resilience," said Paolo Leschiutta, a Moody’s senior vice president and lead analyst for Heineken, in a press release.

"Heineken's ratings are supported by its solid business profile and its ability to maintain broadly stable credit metrics even during downcycles, which compensate for the company's exposure to emerging market volatility and its appetite for acquisitions. We expect that the company will weather the current commodity price volatility further strengthening its financial profile over the next six to 12 months," Leschiutta added.

The outlook remains stable.

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