ZURICH, Switzerland – Barry Callebaut Group, the world’s leading manufacturer of high-quality chocolate and cocoa products, announced yesterday that Standard & Poor’s Rating Services (S&P) revised its outlook to stable from negative and affirmed the ‘BB+’ long-term corporate rating of Barry Callebaut AG.
At the same time, S&P confirmed the ‘BB+’ ratings on the company’s senior unsecured debt.
According to S&P, the outlook revision reflects their anticipation that the financial metrics of Barry Callebaut Group will stay in line with S&P’s “significant” category, thanks to continued sales revenue growth and a steady operating performance.
Victor Balli, CFO of Barry Callebaut, said: “We are pleased to notice Standard & Poor’s revised outlook to stable.
It is a result of our continuous efforts to bring our key financial metrics back to the level before the acquisition of Petra Foods’ Cocoa Ingredients Division within the next few years.”
Source: Barry Callebaut Group