Thai Beverage gets downgrade by Moody’s
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Moody’s Investors Service has downgraded Thai Beverage Public Co Ltd’s issuer rating to Baa3 from Baa2.
The rating action concludes the review for downgrade initiated in December 2017 following the company’s announced acquisition of a 53.59 per cent stake in Saigon Beer Alcohol Beverage Corp, the market leader in Vietnam’s beer sector with an around 41 per cent market share based on volume.
The rating outlook is negative.
