23 September, 2005

Japan: Asahi likely to get a higher rating from Moody’s

Moody's Investors Service announced on September 22 that it is reviewing the Baa1 debt ratings for Asahi Breweries Ltd. and Suntory Ltd. for an eventual upgrade.

Moody's stated that it will evaluate Kirin’s strategy to achieve its business plan to boost sales to 1,660 billion yen in 2006 from 1,444 billion yen in 2004, as well as the firm's financial policy including investment in new business opportunities.

The Japanese Brewer, Asahi Breweries managed to develop and maintain strong brands in beer and "happoshu" low-malt beer markets, and expanded the brands through new product offerings, the U.S. debt rating agency said.

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