11th Nov 2019 14:52
(Alliance News) - Moody's Investors Service on Monday affirmed the A3 long-term issuer rating of Guinness and Smirnoff owner Diageo PLC.
The credit ratings agency added: "Moody's has also affirmed the A3 senior unsecured long-term
rating of the debt issued by the group as well as the P-2 rating assigned
to its commercial paper."
Diageo's stable outlook was also reiterated.
Moody's Senior Vice President Roberto Pozzi said: "Today's rating action reflects our expectation that Diageo's key credit metrics will remain broadly stable over the next two years, reflecting rising profitability and strong free cash flow generation but also high shareholder distributions."
Diageo shares were marginally higher at 3,091.00 pence each in London on Monday afternoon.
By Eric Cunha; [email protected]
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