Barry Callebaut has announced that its credit rating has been upgraded.
Standard & Poor's Ratings Services (S&P) assigned a BBB- credit rating to Barry Callebaut AG, up from BB+.
S&P also upgraded Barry Callebaut’s unsecured bonds and revolving credit facility.
Victor Balli, CFO of Barry Callebaut, said: “After having received investment grade by Moody’s in May this year, the upgrade of Standard & Poor’s marks another important achievement for our company. Our balance sheet and cash flow discipline as well as the constant strengthening of our financial metrics over the past years helped us to reach this goal.”