Fitch puts Anheuser-Busch, SABMiller on watch

Fitch Ratings said it placed Anheuser-Busch InBev NV/SA’s and SABMiller plc’s long-term issuer default ratings and senior unsecured ratings on Rating Watch negative following news that Anheuser-Busch made an offer to take over SABMiller.

The negative watch reflects likely higher leverage for both companies should the offer be successful at the terms announced, Fitch said.

The transaction would create a strong global player with annual pre-dividend consolidated free cash flow of up to $10 billion, the agency said.

SABMiller’s board has yet to respond to the takeover offer, the agency said.

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