Sunday 27 November 2022

MARKETS – Standard & Poor’s revised outlook of Barry Callebaut to stable on improved credit metrics

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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

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