Moody’s rates Anheuser-Busch notes Baa1

Moody's Investors Service said it assigned Baa1 issue ratings to Anheuser-Busch InBev Worldwide Inc., guaranteed by Anheuser-Busch InBev SA/NV and affiliates, for about $15.5 billion of notes to be issued in multiple tranches.

The proceeds will be used to refinance debt.

The outlook is stable.

The agency said the rating reflects Anheuser-Busch’s strong qualitative fundamentals, offset by Moody's expectation that leverage will remain high for the next few years.

Strengths include its position as the world's largest brewer, its wide portfolio of brands at various price points, and leading positions in some of the world's largest and most profitable beer markets, the agency noted.

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