S&P puts Anadolu Efes on watch

S&P said it placed Anadolu Efes Biracilik ve Malt Sanayii AS’ BBB- issuer and issue ratings on CreditWatch with negative implications.

“The CreditWatch negative reflects political uncertainty and effective isolation of the Russian beer operations from the remainder of the group. Russia accounted for about 57% of revenue and 51% of reported EBITDA for Anadolu Efes' beer operations in 2021. Overall, beer group operations account for about 44% and 34% of total sales and EBITDA for Anadolu Efes,” S&P said in a press release.

The negative watch indicates the possibility of a downgrade, which the agency said would probably be limited to two notches.

S&P said it aims to resolve the negative watch within three months.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.