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<item><link>http://www.alacrastore.com/storecontent/fitch/390274_report_frame</link><guid isPermaLink="false">fitch/390274_report_frame</guid><fitch:index_mode xmlns:fitch="http://www.alacra.com/fitch">pdf</fitch:index_mode><description>Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.</description><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Carlsberg Breweries A/S</fitch:company><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80714628</fitch:companyid><pubDate>6/18/2008 2:15:00 PM</pubDate><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01000000</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01030000</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01030100</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01030102</fitch:industry><fitch:price xmlns:fitch="http://www.alacra.com/fitch">165</fitch:price><fitch:report xmlns:fitch="http://www.alacra.com/fitch">Credit Update</fitch:report><title>Credit Update on Carlsberg Breweries A/S</title><fitch:docid xmlns:fitch="http://www.alacra.com/fitch">390274_report_frame</fitch:docid><category>Credit &amp; Investment Research</category><alacra:ip>Fitch Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/fitch/421524_pr_frame</link><guid isPermaLink="false">fitch/421524_pr_frame</guid><fitch:index_mode xmlns:fitch="http://www.alacra.com/fitch">html</fitch:index_mode><description>Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.</description><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Anheuser-Busch Companies, Inc.</fitch:company><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Carlsberg Breweries A/S</fitch:company><fitch:company xmlns:fitch="http://www.alacra.com/fitch">SABMiller plc</fitch:company><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Scottish &amp; Newcastle plc</fitch:company><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80360406</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80360418</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80360421</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80714628</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80954124</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">81414683</fitch:companyid><pubDate>5/23/2008 10:19:02 AM</pubDate><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01000000</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01030000</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01030100</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01030102</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01030200</fitch:industry><fitch:price xmlns:fitch="http://www.alacra.com/fitch">85</fitch:price><fitch:report xmlns:fitch="http://www.alacra.com/fitch">Press Release</fitch:report><fitch:ticker xmlns:fitch="http://www.alacra.com/fitch">BUD</fitch:ticker><fitch:ticker xmlns:fitch="http://www.alacra.com/fitch">SAB</fitch:ticker><title>Fitch: InBev, SABMiller Key to Brewing Consolidation</title><fitch:docid xmlns:fitch="http://www.alacra.com/fitch">421524_pr_frame</fitch:docid><category>Credit &amp; Investment Research</category><alacra:ip>Fitch Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/PR_155568_600062367</link><guid isPermaLink="false">moodys/PR_155568_600062367</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><description>Global Credit Research Rating Action ## MAY ####   Rating Action: Carlsberg Breweries A/S Moody's confirms Carlsberg Breweries' Baa# rating; outlook stable Paris, May ##, #### -- Moody's Investors Service has today confirmed the Baa#...</description><pubDate>5/17/2008 12:34:06 AM</pubDate><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Carlsberg Breweries A/S</moodys:issuer><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">Carlsberg Breweries A/S</moodys:issuer_list><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600062367</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">150.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">News</moodys:report_class><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Rating Action</moodys:report_type><title>Moody's confirms Carlsberg Breweries' Baa3 rating; outlook stable</title><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">PR_155568_600062367</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/fitch/420749_pr_frame</link><guid isPermaLink="false">fitch/420749_pr_frame</guid><fitch:index_mode xmlns:fitch="http://www.alacra.com/fitch">html</fitch:index_mode><description>Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.</description><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Carlsberg Breweries A/S</fitch:company><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Scottish &amp; Newcastle plc</fitch:company><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80360406</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80360421</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80714628</fitch:companyid><pubDate>5/16/2008 10:17:00 AM</pubDate><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01000000</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01030000</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01030100</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01030102</fitch:industry><fitch:price xmlns:fitch="http://www.alacra.com/fitch">85</fitch:price><fitch:report xmlns:fitch="http://www.alacra.com/fitch">Press Release</fitch:report><title>Fitch: Carlsberg Breweries not Affected by Rights Issue &amp; M&amp;A</title><fitch:docid xmlns:fitch="http://www.alacra.com/fitch">420749_pr_frame</fitch:docid><category>Credit &amp; Investment Research</category><alacra:ip>Fitch Research</alacra:ip></item><item><title>Carlsberg Breweries A/S acquires remaining interest in Saku Olletehase AS from Carlsberg A/S</title><description>ESTONIA - Carlsberg breweries, a unit of Carlsberg A/S, acquired the remaining ##% stake, which it did not already own, in Saku Olletehase, a wholesaler of alcohol beverages, a unit of Baltic Beverages Holding. Terms were not disclosed.</description><pubDate>5/13/2008 2:13:06 PM</pubDate><sdc:company_cusip xmlns:sdc="http://www.alacra.com/sdc">14279W</sdc:company_cusip><sdc:target_company_cusip xmlns:sdc="http://www.alacra.com/sdc">79405P</sdc:target_company_cusip><sdc:company_cusip_up xmlns:sdc="http://www.alacra.com/sdc">14279M</sdc:company_cusip_up><sdc:target_company_cusip_up xmlns:sdc="http://www.alacra.com/sdc">14279M</sdc:target_company_cusip_up><sdc:company xmlns:sdc="http://www.alacra.com/sdc">Carlsberg Breweries A/S</sdc:company><sdc:target_company xmlns:sdc="http://www.alacra.com/sdc">Saku Olletehase AS</sdc:target_company><sdc:company_up xmlns:sdc="http://www.alacra.com/sdc">Carlsberg A/S</sdc:company_up><sdc:target_company_up xmlns:sdc="http://www.alacra.com/sdc">Carlsberg A/S</sdc:target_company_up><link>http://www.alacrastore.com/storecontent/Thomson_M%26A/Carlsberg_Breweries_A_S_acquires_remaining_interest_in_Saku_Olletehase_AS_from_Carlsberg_A_S-1976685040</link><guid isPermaLink="false">sdc/1976685040</guid><sdc:deal xmlns:sdc="http://www.alacra.com/sdc"><sdc:deal_no>1976685040</sdc:deal_no><sdc:_copyright><sdc:value>Copyright Â© 2008, Thomson Financial, All Rights Reserved</sdc:value></sdc:_copyright><sdc:a_MAINDUSTRY><sdc:value>Food and Kindred Products</sdc:value></sdc:a_MAINDUSTRY><sdc:a_NATION><sdc:value>Denmark</sdc:value></sdc:a_NATION><sdc:a_SICDESC><sdc:value>Malt beverages</sdc:value></sdc:a_SICDESC><sdc:a_SICPI><sdc:value>2082</sdc:value></sdc:a_SICPI><sdc:a_STATE><sdc:value>FF</sdc:value></sdc:a_STATE><sdc:a_STATELONG><sdc:value>Foreign</sdc:value></sdc:a_STATELONG><sdc:a_STATUS><sdc:value>Joint Venture</sdc:value></sdc:a_STATUS><sdc:asic_SIC><sdc:value>2082:Malt beverages</sdc:value></sdc:asic_SIC><sdc:aupsic_SIC><sdc:value sdc:p="0">2082:Malt beverages</sdc:value><sdc:value sdc:p="1">2084:Wines, brandy, and brandy spirits</sdc:value><sdc:value sdc:p="2">2086:Bottled &amp; canned soft drinks &amp; carbonated waters</sdc:value><sdc:value sdc:p="3">3221:Glass containers</sdc:value><sdc:value sdc:p="4">3229:Pressed and blown glass and glasswear, nec</sdc:value><sdc:value sdc:p="5">3231:Glass products, made of purchased glass</sdc:value><sdc:value sdc:p="6">3269:Pottery products, nec</sdc:value><sdc:value sdc:p="7">3914:Silverware, plated ware, and stainless steel ware</sdc:value><sdc:value sdc:p="8">5149:Groceries and related products, nec</sdc:value><sdc:value sdc:p="9">5181:Beer and ale</sdc:value><sdc:value sdc:p="10">5182:Wine and distilled alcoholic beverages</sdc:value></sdc:aupsic_SIC><sdc:b_EXCHANGE><sdc:value>Tallinn</sdc:value></sdc:b_EXCHANGE><sdc:b_MAINDUSTRY><sdc:value>Food and Kindred Products</sdc:value></sdc:b_MAINDUSTRY><sdc:b_NATION><sdc:value>Estonia</sdc:value></sdc:b_NATION><sdc:b_SICDESC><sdc:value>Malt beverages</sdc:value></sdc:b_SICDESC><sdc:b_SICPI><sdc:value>2082</sdc:value></sdc:b_SICPI><sdc:b_STATE><sdc:value>FF</sdc:value></sdc:b_STATE><sdc:b_STATELONG><sdc:value>Foreign</sdc:value></sdc:b_STATELONG><sdc:b_STATUS><sdc:value>Public</sdc:value></sdc:b_STATUS><sdc:b_TICKER><sdc:value>SKU1T</sdc:value></sdc:b_TICKER><sdc:c_ACIDGEN><sdc:value>708044002</sdc:value></sdc:c_ACIDGEN><sdc:c2up_BUSS><sdc:value>Produce,whl beer</sdc:value></sdc:c2up_BUSS><sdc:c3up_BUSS><sdc:value>Produce,whl beer</sdc:value></sdc:c3up_BUSS><sdc:co_DESCR><sdc:value>Unspecified</sdc:value></sdc:co_DESCR><sdc:cs_DESCR><sdc:value>Ordinary Share</sdc:value></sdc:cs_DESCR><sdc:d_TCIDGEN><sdc:value>1010021001</sdc:value></sdc:d_TCIDGEN><sdc:date_lastupdate><sdc:value>May 13 2008</sdc:value></sdc:date_lastupdate><sdc:finbltm_BV><sdc:value>0.00000</sdc:value></sdc:finbltm_BV><sdc:finbltm_CASH><sdc:value>0.00000</sdc:value></sdc:finbltm_CASH><sdc:finbltm_CASHFLOW><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW><sdc:finbltm_CASHFLOW1><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW1><sdc:finbltm_CASHFLOW2><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW2><sdc:finbltm_CASHFLOW3><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW3><sdc:finbltm_CASHFLOW4><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW4><sdc:finbltm_CASHFLOW5><sdc:value>0.00000</sdc:value></sdc:finbltm_CASHFLOW5><sdc:finbltm_COMEQ><sdc:value>0.00000</sdc:value></sdc:finbltm_COMEQ><sdc:finbltm_DEBTRAT><sdc:value>0.00000</sdc:value></sdc:finbltm_DEBTRAT><sdc:finbltm_DSER2><sdc:value>0.00000</sdc:value></sdc:finbltm_DSER2><sdc:finbltm_EBIT><sdc:value>0.00000</sdc:value></sdc:finbltm_EBIT><sdc:finbltm_EPS><sdc:value>0.00000</sdc:value></sdc:finbltm_EPS><sdc:finbltm_NI><sdc:value>0.00000</sdc:value></sdc:finbltm_NI><sdc:finbltm_PTINC><sdc:value>0.00000</sdc:value></sdc:finbltm_PTINC><sdc:finbltm_SALES><sdc:value>0.00000</sdc:value></sdc:finbltm_SALES><sdc:finbltm_STDEBT><sdc:value>0.00000</sdc:value></sdc:finbltm_STDEBT><sdc:finbltm_TASS><sdc:value>0.00000</sdc:value></sdc:finbltm_TASS><sdc:fiscal_ADCR><sdc:value>0.00000</sdc:value></sdc:fiscal_ADCR><sdc:fiscal_ANI><sdc:value>0.00000</sdc:value></sdc:fiscal_ANI><sdc:fiscal_APFDCR><sdc:value>0.00000</sdc:value></sdc:fiscal_APFDCR><sdc:fiscal_ASALES><sdc:value>0.00000</sdc:value></sdc:fiscal_ASALES><sdc:fiscal_ATASS><sdc:value>0.00000</sdc:value></sdc:fiscal_ATASS><sdc:fiscal_RATE><sdc:value>0.00000</sdc:value></sdc:fiscal_RATE><sdc:g_SEQ><sdc:value sdc:p="0">1.00000</sdc:value><sdc:value sdc:p="1">2.00000</sdc:value><sdc:value sdc:p="2">3.00000</sdc:value><sdc:value sdc:p="3">4.00000</sdc:value></sdc:g_SEQ><sdc:g_TEST><sdc:value sdc:p="0">Carlsberg Breweries A/S,</sdc:value><sdc:value sdc:p="1">headquartered in Copenhagen,</sdc:value><sdc:value sdc:p="2">Denmark, produces malt</sdc:value><sdc:value sdc:p="3">beverages.</sdc:value></sdc:g_TEST><sdc:g_business><sdc:value sdc:p="0">Carlsberg Breweries A/S, headquartered in Copenhagen,</sdc:value><sdc:value sdc:p="1">Denmark, produces malt beverages.</sdc:value></sdc:g_business><sdc:g_business1><sdc:value>Carlsberg Breweries A/S, headquartered in Copenhagen, Denmark, produces malt beverages.</sdc:value></sdc:g_business1><sdc:h_SEQ><sdc:value sdc:p="0">1.00000</sdc:value><sdc:value sdc:p="1">2.00000</sdc:value><sdc:value sdc:p="2">3.00000</sdc:value><sdc:value sdc:p="3">4.00000</sdc:value><sdc:value sdc:p="4">5.00000</sdc:value><sdc:value sdc:p="5">6.00000</sdc:value><sdc:value sdc:p="6">7.00000</sdc:value><sdc:value sdc:p="7">8.00000</sdc:value><sdc:value sdc:p="8">9.00000</sdc:value><sdc:value sdc:p="9">10.00000</sdc:value><sdc:value sdc:p="10">11.00000</sdc:value><sdc:value sdc:p="11">12.00000</sdc:value><sdc:value sdc:p="12">13.00000</sdc:value><sdc:value sdc:p="13">14.00000</sdc:value><sdc:value sdc:p="14">15.00000</sdc:value><sdc:value sdc:p="15">16.00000</sdc:value><sdc:value sdc:p="16">17.00000</sdc:value><sdc:value sdc:p="17">18.00000</sdc:value><sdc:value sdc:p="18">19.00000</sdc:value><sdc:value sdc:p="19">20.00000</sdc:value><sdc:value sdc:p="20">21.00000</sdc:value><sdc:value sdc:p="21">22.00000</sdc:value><sdc:value sdc:p="22">23.00000</sdc:value></sdc:h_SEQ><sdc:h_TEST><sdc:value sdc:p="0">Saku Olletehase, headquartered</sdc:value><sdc:value sdc:p="1">in Harju maakond, Estonia,</sdc:value><sdc:value sdc:p="2">provides wholesale, import and</sdc:value><sdc:value sdc:p="3">export of low alcohol</sdc:value><sdc:value sdc:p="4">beverages, mineral water and</sdc:value><sdc:value sdc:p="5">soft drinks. The companys</sdc:value><sdc:value sdc:p="6">brand names include: Saku</sdc:value><sdc:value sdc:p="7">original, Saku Kuld, Saku</sdc:value><sdc:value sdc:p="8">Hele, Saku Tume, Saku Porter,</sdc:value><sdc:value sdc:p="9">Rock, Saku on Ice, and shandy</sdc:value><sdc:value sdc:p="10">drink DLight, as well as under</sdc:value><sdc:value sdc:p="11">the brand name, Carlsberg. The</sdc:value><sdc:value sdc:p="12">company also produces the</sdc:value><sdc:value sdc:p="13">cider line KISS, as well as</sdc:value><sdc:value sdc:p="14">long drink product line under</sdc:value><sdc:value sdc:p="15">the brand names, SIN and Saku</sdc:value><sdc:value sdc:p="16">ZIP. The company also provides</sdc:value><sdc:value sdc:p="17">mineral water under the brand</sdc:value><sdc:value sdc:p="18">name, Vichy Classique, as well</sdc:value><sdc:value sdc:p="19">as non-carbonated flavoured</sdc:value><sdc:value sdc:p="20">water under the brand name,</sdc:value><sdc:value sdc:p="21">Vichy VivaFresh. The company</sdc:value><sdc:value sdc:p="22">was founded in 1820.</sdc:value></sdc:h_TEST><sdc:h_business><sdc:value sdc:p="0">Saku Olletehase, headquartered in Harju maakond, Estonia,</sdc:value><sdc:value sdc:p="1">provides wholesale, import and export of low alcohol</sdc:value><sdc:value sdc:p="2">beverages, mineral water and soft drinks. The companys brand</sdc:value><sdc:value sdc:p="3">names include: Saku original, Saku Kuld, Saku Hele, Saku</sdc:value><sdc:value sdc:p="4">Tume, Saku Porter, Rock, Saku on Ice, and shandy drink</sdc:value><sdc:value sdc:p="5">DLight, as well as under the brand name, Carlsberg. The</sdc:value><sdc:value sdc:p="6">company also produces the cider line KISS, as well as long</sdc:value><sdc:value sdc:p="7">drink product line under the brand names, SIN and Saku ZIP.</sdc:value><sdc:value sdc:p="8">The company also provides mineral water under the brand</sdc:value><sdc:value sdc:p="9">name, Vichy Classique, as well as non-carbonated flavoured</sdc:value><sdc:value sdc:p="10">water under the brand name, Vichy VivaFresh. The company was</sdc:value><sdc:value sdc:p="11">founded in 1820.</sdc:value></sdc:h_business><sdc:h_business1><sdc:value>Saku Olletehase, headquartered in Harju maakond, Estonia, provides wholesale, import and export of low alcohol beverages, mineral water and soft drinks. The companys brand names include: Saku original, Saku Kuld, Saku Hele, Saku Tume, Saku Porter, Rock, Saku on Ice, and shandy drink DLight, as well as under the brand name, Carlsberg. The company also produces the cider line KISS, as well as long drink product line under the brand names, SIN and Saku ZIP. The company also provides mineral water under the brand name, Vichy Classique, as well as non-carbonated flavoured water under the brand name, Vichy VivaFresh. The company was founded in 1820.</sdc:value></sdc:h_business1><sdc:i_AFEEPCT><sdc:value>0.00000</sdc:value></sdc:i_AFEEPCT><sdc:i_AFEETOT><sdc:value>0.00000</sdc:value></sdc:i_AFEETOT><sdc:i_ATERMFEE><sdc:value>0.00000</sdc:value></sdc:i_ATERMFEE><sdc:i_COMOUT><sdc:value>8.00000</sdc:value></sdc:i_COMOUT><sdc:i_CROSS1><sdc:value>Y</sdc:value></sdc:i_CROSS1><sdc:i_DATEANN><sdc:value>09 May 08</sdc:value></sdc:i_DATEANN><sdc:i_DATEANN2><sdc:value>Fri, 09 May 2008 00:00:00 EST</sdc:value></sdc:i_DATEANN2><sdc:i_DATEANNS><sdc:value>Date Announced: 05/09/2008</sdc:value></sdc:i_DATEANNS><sdc:i_DATEEFF><sdc:value>09 May 08</sdc:value></sdc:i_DATEEFF><sdc:i_DATEEFFS><sdc:value>Date Effective: 05/09/2008</sdc:value></sdc:i_DATEEFFS><sdc:i_DATEUNCON><sdc:value>09 May 08</sdc:value></sdc:i_DATEUNCON><sdc:i_DESCR><sdc:value>Acq. Rem. 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Terms were not disclosed.</sdc:value></sdc:n_synopsis2><sdc:n_synopsis3><sdc:value sdc:p="0">ESTONIA - Carlsberg breweries, a unit of Carlsberg A/S, acquired the remaining 50% stake,</sdc:value><sdc:value sdc:p="1">which it did not already own, in Saku Olletehase, a wholesaler of alcohol beverages, a</sdc:value><sdc:value sdc:p="2">unit of Baltic Beverages Holding. Terms were not disclosed.</sdc:value></sdc:n_synopsis3><sdc:n_synopsis4><sdc:value sdc:p="0">ESTONIA - Carlsberg breweries, a unit of Carlsberg A/S, acquired the remaining 50% stake, which it did not already own, in Saku Olletehase, a wholesaler of alcohol beverages, a unit of Baltic</sdc:value><sdc:value sdc:p="1">Beverages Holding. Terms were not disclosed.</sdc:value></sdc:n_synopsis4><sdc:n_synopsis5><sdc:value sdc:p="0">ESTONIA - Carlsberg breweries, a unit of Carlsberg A/S, acquired the remaining 50% stake, which it did not already own, in Saku</sdc:value><sdc:value sdc:p="1">Olletehase, a wholesaler of alcohol beverages, a unit of Baltic Beverages Holding. Terms were not disclosed.</sdc:value></sdc:n_synopsis5><sdc:q_DESCR><sdc:value>Completed</sdc:value></sdc:q_DESCR><sdc:q_HOSTANETASS><sdc:value>0.00000</sdc:value></sdc:q_HOSTANETASS><sdc:q_HOSTANILTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTANILTM><sdc:q_HOSTASALESLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTASALESLTM><sdc:q_HOSTATASS><sdc:value>0.00000</sdc:value></sdc:q_HOSTATASS><sdc:q_HOSTBOOKVALUE><sdc:value>0.00000</sdc:value></sdc:q_HOSTBOOKVALUE><sdc:q_HOSTCASHFLOW><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW><sdc:q_HOSTCASHFLOW1><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW1><sdc:q_HOSTCASHFLOW2><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW2><sdc:q_HOSTCASHFLOW3><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW3><sdc:q_HOSTCASHFLOW4><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW4><sdc:q_HOSTCASHFLOW5><sdc:value>0.00000</sdc:value></sdc:q_HOSTCASHFLOW5><sdc:q_HOSTCOMMONEQUITY><sdc:value>0.00000</sdc:value></sdc:q_HOSTCOMMONEQUITY><sdc:q_HOSTEBITLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTEBITLTM><sdc:q_HOSTEPS1><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS1><sdc:q_HOSTEPS2><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS2><sdc:q_HOSTEPS3><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS3><sdc:q_HOSTEPS4><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS4><sdc:q_HOSTEPS5><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPS5><sdc:q_HOSTEPSLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTEPSLTM><sdc:q_HOSTNETASS><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS><sdc:q_HOSTNETASS1><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS1><sdc:q_HOSTNETASS2><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS2><sdc:q_HOSTNETASS3><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS3><sdc:q_HOSTNETASS4><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS4><sdc:q_HOSTNETASS5><sdc:value>0.00000</sdc:value></sdc:q_HOSTNETASS5><sdc:q_HOSTNI1><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI1><sdc:q_HOSTNI2><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI2><sdc:q_HOSTNI3><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI3><sdc:q_HOSTNI4><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI4><sdc:q_HOSTNI5><sdc:value>0.00000</sdc:value></sdc:q_HOSTNI5><sdc:q_HOSTNILTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTNILTM><sdc:q_HOSTPTINC1><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC1><sdc:q_HOSTPTINC2><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC2><sdc:q_HOSTPTINC3><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC3><sdc:q_HOSTPTINC4><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC4><sdc:q_HOSTPTINC5><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINC5><sdc:q_HOSTPTINCLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTPTINCLTM><sdc:q_HOSTSALES1><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES1><sdc:q_HOSTSALES2><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES2><sdc:q_HOSTSALES3><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES3><sdc:q_HOSTSALES4><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES4><sdc:q_HOSTSALES5><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALES5><sdc:q_HOSTSALESLTM><sdc:value>0.00000</sdc:value></sdc:q_HOSTSALESLTM><sdc:q_HOSTTASS><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS><sdc:q_HOSTTASS1><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS1><sdc:q_HOSTTASS2><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS2><sdc:q_HOSTTASS3><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS3><sdc:q_HOSTTASS4><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS4><sdc:q_HOSTTASS5><sdc:value>0.00000</sdc:value></sdc:q_HOSTTASS5><sdc:q_STATUS><sdc:value>Status:Completed</sdc:value></sdc:q_STATUS><sdc:r_PE><sdc:value>-999.00000</sdc:value></sdc:r_PE><sdc:r_PE_PRINT><sdc:value>np</sdc:value></sdc:r_PE_PRINT><sdc:r_PFTMARG><sdc:value>0.00000</sdc:value></sdc:r_PFTMARG><sdc:r_PRICEBOOK><sdc:value>-999.00000</sdc:value></sdc:r_PRICEBOOK><sdc:r_PRICEBOOK_PRINT><sdc:value>np</sdc:value></sdc:r_PRICEBOOK_PRINT><sdc:r_PTINC3YGR><sdc:value>0.00000</sdc:value></sdc:r_PTINC3YGR><sdc:r_PTINC5YGR><sdc:value>0.00000</sdc:value></sdc:r_PTINC5YGR><sdc:r_ROE><sdc:value>0.00000</sdc:value></sdc:r_ROE><sdc:r_SALES3YGR><sdc:value>0.00000</sdc:value></sdc:r_SALES3YGR><sdc:r_SALES5YGR><sdc:value>0.00000</sdc:value></sdc:r_SALES5YGR><sdc:r_SE><sdc:value>0.00000</sdc:value></sdc:r_SE><sdc:r_TASS3YGR><sdc:value>0.00000</sdc:value></sdc:r_TASS3YGR><sdc:r_TASS5YGR><sdc:value>0.00000</sdc:value></sdc:r_TASS5YGR><sdc:r_TTCFMULT><sdc:value>0.00000</sdc:value></sdc:r_TTCFMULT><sdc:r_TTEBITMULT><sdc:value>0.00000</sdc:value></sdc:r_TTEBITMULT><sdc:r_VALNA><sdc:value>0.00000</sdc:value></sdc:r_VALNA><sdc:sic_SIC><sdc:value sdc:p="0">2082:Malt beverages</sdc:value><sdc:value sdc:p="1">2086:Bottled &amp; canned soft drinks &amp; carbonated waters</sdc:value></sdc:sic_SIC><sdc:upa_UPACIDGEN><sdc:value>132991001</sdc:value></sdc:upa_UPACIDGEN><sdc:upa1_EXCHANGE><sdc:value>Copenhagen</sdc:value></sdc:upa1_EXCHANGE><sdc:upa1_NATION><sdc:value>Denmark</sdc:value></sdc:upa1_NATION><sdc:upa1_SICP><sdc:value>2082</sdc:value></sdc:upa1_SICP><sdc:upa1_STATE><sdc:value>Foreign</sdc:value></sdc:upa1_STATE><sdc:upa1_STATUS><sdc:value>Public</sdc:value></sdc:upa1_STATUS><sdc:upa1_TICKER><sdc:value>CARLA</sdc:value></sdc:upa1_TICKER><sdc:upsic_SIC><sdc:value sdc:p="0">2082:Malt beverages</sdc:value><sdc:value sdc:p="1">2084:Wines, brandy, and brandy spirits</sdc:value><sdc:value sdc:p="2">2086:Bottled &amp; canned soft drinks &amp; carbonated waters</sdc:value><sdc:value sdc:p="3">3221:Glass containers</sdc:value><sdc:value sdc:p="4">3229:Pressed and blown glass and glasswear, nec</sdc:value><sdc:value sdc:p="5">3231:Glass products, made of purchased glass</sdc:value><sdc:value sdc:p="6">3269:Pottery products, nec</sdc:value><sdc:value sdc:p="7">3914:Silverware, plated ware, and stainless steel ware</sdc:value><sdc:value sdc:p="8">5149:Groceries and related products, nec</sdc:value><sdc:value sdc:p="9">5181:Beer and ale</sdc:value><sdc:value sdc:p="10">5182:Wine and distilled alcoholic beverages</sdc:value></sdc:upsic_SIC><sdc:upt_UPTCIDGEN><sdc:value>132991001</sdc:value></sdc:upt_UPTCIDGEN><sdc:upt1_EXCHANGE><sdc:value>Copenhagen</sdc:value></sdc:upt1_EXCHANGE><sdc:upt1_NATION><sdc:value>Denmark</sdc:value></sdc:upt1_NATION><sdc:upt1_SICP><sdc:value>2082</sdc:value></sdc:upt1_SICP><sdc:upt1_STATE><sdc:value>Foreign</sdc:value></sdc:upt1_STATE><sdc:upt1_STATUS><sdc:value>Public</sdc:value></sdc:upt1_STATUS><sdc:upt1_TICKER><sdc:value>CARLA</sdc:value></sdc:upt1_TICKER><sdc:x_RANK1_VALUE><sdc:value>0.00000</sdc:value></sdc:x_RANK1_VALUE><sdc:x_RANK_HOSTRANKVAL><sdc:value>0.00000</sdc:value></sdc:x_RANK_HOSTRANKVAL><sdc:x_RANK_RANKVAL><sdc:value>0.00000</sdc:value></sdc:x_RANK_RANKVAL><sdc:x_rank_rankstgval><sdc:value>0.00000</sdc:value></sdc:x_rank_rankstgval></sdc:deal><category>Deal Information</category><alacra:ip>Thomson Financial Mergers &amp; Acquisitions</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/PR_148350_600062367</link><guid isPermaLink="false">moodys/PR_148350_600062367</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Rating Action</moodys:report_type><pubDate>1/26/2008 12:22:22 AM</pubDate><title>Moody's reviews Carlsberg Breweries' Baa3 rating for possible downgrade</title><description>Global Credit Research Rating Action ## JAN ####   Rating Action: Carlsberg Breweries A/S Moody's reviews Carlsberg Breweries' Baa# rating for possible downgrade Rating action follows bid on Scottish &amp; Newcastle Paris, January ##, ####...</description><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Carlsberg Breweries A/S</moodys:issuer><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600062367</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">150.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">News</moodys:report_class><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">Carlsberg Breweries A/S</moodys:issuer_list><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">PR_148350_600062367</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/fitch/402853_pr_frame</link><guid isPermaLink="false">fitch/402853_pr_frame</guid><fitch:index_mode xmlns:fitch="http://www.alacra.com/fitch">html</fitch:index_mode><description>Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.</description><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Carlsberg Breweries A/S</fitch:company><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Scottish &amp; Newcastle plc</fitch:company><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80360406</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80360418</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80360421</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80714628</fitch:companyid><pubDate>1/25/2008 10:20:00 AM</pubDate><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01000000</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01030000</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01030100</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">01030102</fitch:industry><fitch:price xmlns:fitch="http://www.alacra.com/fitch">75</fitch:price><fitch:report xmlns:fitch="http://www.alacra.com/fitch">Press Release</fitch:report><fitch:ticker xmlns:fitch="http://www.alacra.com/fitch">SCTN</fitch:ticker><title>Fitch Places S&amp;N on Rating Watch Positive on Heineken/Carlsberg Takeover Offer</title><fitch:docid xmlns:fitch="http://www.alacra.com/fitch">402853_pr_frame</fitch:docid><category>Credit &amp; Investment Research</category><alacra:ip>Fitch Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/fitch/402854_pr_frame</link><guid isPermaLink="false">fitch/402854_pr_frame</guid><fitch:index_mode xmlns:fitch="http://www.alacra.com/fitch">html</fitch:index_mode><description>Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. 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