Moody’s affirms Brambles

Moody's Investors Service said it affirmed Brambles Ltd.'s Baa1 issuer and senior unsecured ratings and P-2 short term issuer ratings.

At the same time, the agency affirmed the Baa1 backed senior unsecured ratings of Brambles Finance Ltd., Brambles Finance plc and Brambles USA, Inc.

The outlooks are stable.

“Brambles' rating is driven by its embedded position in the supply chains of most of the major markets globally,” Moody’s said in a news release.

“This position is very defensible, with high barriers to entry through the significant capital investment required to establish a pallet pooling system and the risk inherent for its customers in switching providers.”

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