S&P might cut North American Breweries

Standard & Poor's said it placed its ratings on North American Breweries Holdings LLC on CreditWatch with negative implications, including its B corporate credit rating.

The CreditWatch negative listing follows the company's violation of its bank maintenance financial covenants as of the 2013 third quarter, after much weaker than expected financial performance.

"Although NAB recently received an equity infusion to cure the covenant violations, it is our opinion that NAB may not be able to improve its liquidity position and financial performance sufficiently to support the current rating," S&P credit analyst Jean Stout said in a news release.

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