Fitch revises Bacardi view to stable

Fitch Ratings said it revised the outlook to stable from negative and affirmed Bacardi Ltd. and Bacardi-Martini BV ratings, including Bacardi's long-term issuer default rating at BBB-. The agency also gave BMBV a BBB- IDR and a BBB- rating to BMBV's co-issued senior notes.

The outlook reflects Fitch's forecast that leverage (total gross debt/EBITDA after associates and minorities) will decline to 3.5x in fiscal 2022 (ending March), compared to leverage of 4x in fiscal 2021, the agency said.

© 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.