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S&P upgraded Ambev‘s rating to A-

S&P upgraded Ambev‘s rating to A-

The rating agency Standard & Poors upgraded Ambev‘s corporate credit rating to A- from BBB+. The outlook on the rating is stable. The upgrade reflects the analysis of the company‘s financial profile, strong liquidity and free operating cash flow, attributes that help mitigate its exposure to economic volatility and country risks in Latin America.

According to the agency, the rating on Ambev reflects the company‘s strong business profile, supported by its strong branded portfolio and favorable growth prospects in its main markets. S&P also highlighted that Ambev‘s rather inelastic product demand allows it to face potential volatility in its main markets, mitigating the risks of a larger-than-peers exposure to emerging markets.

Ambev was the first company to obtain, in 2004, the investment grade status in foreign currency, given by Standard & Poors. In 2006, the same recognition was given by Fitch Ratings and, the following year, by Moody‘s. In May this year, Fitch had also upgraded Ambev‘s rating to A- from BBB. The note is two degrees higher than Brazil‘s country ceiling.


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