Saturday 22 June 2024
  • La Cimbali

Moody’s assigns investment grade rating to Jde Peet’s for its operating performance

Must read

  • TME - Cialdy Evo
Demuslab

AMSTERDAM, The Netherlands – JDE Peet’s, the world’s largest pure-play coffee and tea group by revenue, today announced that Moody’s Investors Service (Moody’s) has assigned an investment grade rating (Baa3/Stable) to the company. This rating reinforces the commitment the company made at the time of the IPO to further improve its credit profile, underscoring its operating strength, strong financial discipline, and continued progress.

In its release, Moody’s noted: “The Baa3 rating reflects its resilient operating performance during 2020, despite its exposure to the away-from-home channel, its progress in reducing financial leverage and the simplification of its capital structure.

JDE Peet’s rating is supported by the strong business profile of the group thanks to the combination of JDE’s market two position in the global coffee industry together with Peet’s Coffee’s solid positioning in the US premium coffee retail segment, benefiting from a strong portfolio of brands and good geographic diversification.

The rating is also supported by the company’s strong free cash flow generation and good liquidity.”

CIMBALI

Latest article

  • Franke Mytico
  • Dalla Corte
  • DESCAMEX COFFELOVERS 2024