22nd Nov 2019 15:35
(Alliance News) -- Tate & Lyle PLC has shown "solid performance, good cash flow generation and low leverage, supported by a good liquidity position," Moody's Investors Service said Friday as it affirmed the UK food ingredients company's debt rating.
Moody's affirmed Tate & Lyle's long-term issuer rating at Baa2 with a stable outlook.
The ratings agency did warn however that the company's financial strengths are counterbalanced by structural challenges that the Primary Product division is facing. Primary Products includes include products such as high fructose, corn syrup and acidulants.
Tate & Lyle shares were up 0.4% on Friday afternoon in London at 701.80 pence.
By Tom Waite; [email protected]
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