Moody's cuts Wimm-Bill-Dann outlook to negative

Moody's Investors Service said it has changed the outlook on the Ba3 corporate family rating of Wimm-Bill-Dann OJSC to negative.

The change in the outlook reflects short-term maturities continuously accounting for a material part (currently about 35%) of the company's debt against a background of tight market conditions to access liquidity and challenging economic conditions, the agency said.

The liquidity management policy of the company is based principally on the company's strong cash flow generation capacity with no significant additional committed back-up credit facilities signed well in advance dates of refinancing issues, the agency noted.

Though Moody's said it believes that the company has a number of options to deal with the potential call of cash in the next few months, such a liquidity profile is putting potential pressure on the company's Ba3 going forward.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.