-Moody's keeps Foster's at Baa2/P-2.
BANKING AND CREDIT NEWS-May 9, 2011--Moody's keeps Foster's at Baa2/P-2(C)2011 M2 COMMUNICATIONS http://www.m2.com
9 May 2011 -- Moody's said it maintained its ratings on Australian beverages producer Foster's Group Ltd (ASX:FGL) to reflect the green light by shareholders and coming into effect of the scheme of arrangement for the demerger of Treasury Wine Estates Ltd.
Foster's Baa2 and P-2 ratings draw strength from its strong brand equity, considerable market presence and the robust cash flows of its beer operations, the agency said. The company's sound financial indicators provide a meaningful cushion within the ratings, Moody's added.
The rating outlook is "stable".
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||May 9, 2011|
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