Moody's may up Snow Brand Milk

Moody's Investors Service said it placed the Ba2 senior unsecured debt ratings of Snow Brand Milk Products Co., Ltd. under review for possible upgrade.

The action reflects Moody's view that the company's business fundamentals may further stabilize over the medium-term based on recovery of operating performance and capital structure.

In its review, Moody's said it will assess Snow Brand's operational results to continue to strengthen its cost effectiveness and the company's business strategy to improve its profitability and cash flow stability. The review also will focus on the company's overall financial policy and ability to improve its financial strength going forward, Moody's said.

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