Moody's downgrades Suedzucker

Moody's Investors Service said it downgraded Suedzucker AG’s long-term ratings to Baa2 from Baa1, downgraded Suedzucker International Finance BV's junior subordinated rating to Ba2 from Ba1 and assigned a Baa2 backed issuer rating to Suedzucker International Finance BV. The outlook is stable, and this concludes the review for downgrade.

The downgrade reflects the expected reduction in operating profit to around €200 million for the current financial year. The agency said this decline reflects the negative impact of a deteriorating environment in the European sugar and bio ethanol markets on the company's key sugar and crop energies segments.

The Baa2 ratings reflect the group's scale and leading position in European beet sugar production and its diversification through four business segments, Moody’s said.

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