S&P: No change to Beam

Standard & Poor's said its ratings on Beam Inc. are unaffected by the company's announcement that it agreed to acquire Pinnacle Vodka and Calico Jack rum brands and other assets from White Rock Distilleries for $605 million.

The agency said it expects the company to complete the transaction, subject to customary closing conditions and regulatory approvals, in the second quarter on 2012.

While S&P said it believes the acquisition will enhance Beam's presence in the large and growing vodka category, this acquisition follows the company's recent purchase of Cooley distillery, an Irish whiskey producer and Beam intends to finance this acquisition with debt, which could lead to weakening credit ratios.

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