UK: Credit rating agency Standard & Poor’s has cut its outlook for Scottish & Newcastle to negative from stable but affirmed the brewer’s long-term "BBB" corporate credit rating, Business Scotsman reported on January 20.

However, S&P lowered its short-term rating, saying the move reflected "growing uncertainty about the timing of the expected restoration of the group’s financial profile to a level consistent with the long-term ratings". S&P added that the brewer had "no flexibility for debt-funded acquisitions or share buybacks".

E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .