Moody's alters Suntory trend to positive

Moody's Investors Service said it change the outlook to positive from stable and affirmed Suntory Holdings Ltd.’s Baa2 issuer rating and senior unsecured rating.

The agency also affirmed the Baa2 backed senior unsecured rating of Beam Suntory Inc., a wholly owned subsidiary. Suntory Holdings guarantees the subsidiary’s notes.

"The positive outlook reflects Suntory Holdings' improved credit quality, including a quicker-than-expected turnaround in profits coming out of the pandemic and a reduction in leverage, which we expect to decline below pre-pandemic levels," said Dean Enjo, a Moody's vice president and senior analyst, in a press release.

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