S&P assigns Wimm-Bill-Dann bonds ruAA-

Standard & Poor's said it assigned its ruAA- Russia national-scale rating to the proposed RUR 5 billion senior unsecured bonds to be issued by Wimm-Bill-Dann Foods OJSC (BB-/stable, Russia national-scale ruAA-).

"The rating on the bonds mirrors the Russia national-scale rating on Wimm-Bill-Dann," said S&P credit analyst Anton Geyze.

"The proceeds from the bond issue will be used to refinance nearing debt maturities and in part to finance planned capital expenditures."

The agency said that the ratings on Wimm-Bill-Dann are constrained by intense competition with international and local producers, retail chains' increasing bargaining power and Wimm-Bill-Dann's limited diversification due to its modest market position in the beverages segment.

© 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.