Moody's upgrades Suedzucker

Moody's Investors Service said it upgraded the issuer and senior unsecured long-term ratings of Suedzucker AG and its wholly owned and guaranteed subsidiary Suedzucker International Finance BV to Baa1 from Baa2.

Concurrently, Moody's said it upgraded Suedzucker's subordinated rating to Ba1 from Ba2 and affirmed the P-2 commercial paper ratings of the group and Suedzucker International Finance BV.

The outlook was changed to stable from positive.

"Today's rating action reflects the continued improvement in Suedzucker's operating performance and its conservative financial policy since fiscal year 2007/08, which have enabled the group to strengthen its credit metrics," Moody's vice president, senior analyst and lead analyst for Suedzucker Andreas Rands said in a news release.

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