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Barry Callebaut has active relationships with Standard & Poor’s and Moody’s. Their current ratings are:

S&P BB+/Stable Corporate Credit Rating
  BB+ Senior unsecured bank loan (EUR 850 m)
BB+ Senior unsecured notes (EUR 350 m)
Moody's Ba1/Stable Corporate Family Rating
  Ba1/LGD4 Senior unsecured notes (EUR 350 m)


Based on Barry Callebaut's solid track record of stable operating margins and credit metrics, Moody's and S&P re-affirmed Barry Callebaut's existing corporate ratings of Ba1 and BB+ respectively, on June 28, 2007. Main drivers for this are:

  • Market leader in a strong growing market of outsourced chocolate and cocoa products
  • Geographic diversification and large customer base
  • Enhanced liquidity profile from EUR 350 million bond issue, placed on July 5, 2007

Additional information

Rating reports
On June 28, 2007, S&P and Moody's assigned BB+ and Ba1 rating respectively to the EUR 350 million bond.
News Release
July 4, 2007: Successful placement of EUR 350 million 10-year Senior Fixed Rate Notes and renegotiation of the terms and conditions of its existing EUR 850 million Revolving Credit Facility.

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