USA: Analysts at Legg Mason downgrade Molson Coors Brewing Company from "buy" to "hold," while reducing their estimates for the company, Newsratings communicated on March 1. In a research note published on the same day, the analysts mentioned that the company is expected to witness a decline in the net revenue per barrel and profits of its Americas segment due to intensifying competition. The CEO of former Molson, Dan O'Neill, is unlikely to continue with Molson Coors Brewing beyond 2005, the analysts say. The EPS estimate for 2005 has been reduced from $5.38 to $4.57 partly due to increased depreciation charges and amortization expenses.

Standard & Poor's cut Molson Coors Brewing Co.'s long-term debt ratings on March 1, citing soft operating performance. S&P cut Molson's rating to "BBB," two steps from the junk category, from "BBB-plus" and affirmed the "A-2" short-term corporate credit rating. S&P also cut the senior unsecured debt rating on Coors Brewing Co., a subsidiary of Molson, to "BBB" from "BBB-plus."