<?xml version="1.0" encoding="UTF-8" ?>
			<?xml-stylesheet href="/rss/rss2html.xsl" type="text/xsl" media="screen"?>
			<rss version="2.0" xmlns:alacra="http://www.alacra.com" xmlns:bir="http://www.alacra.com/bir" xmlns:ccbn="http://www.alacra.com/ccbn" xmlns:spcred="http://www.alacra.com/spcred" xmlns:moodys="http://www.alacra.com/moodys" xmlns:fitch="http://www.alacra.com/fitch" xmlns:newstex="http://www.alacra.com/newstex" ><channel><title>Companhia de Bebidas das Americas (AmBev) RSS Research Feed - Subscribe Today - AlacraStore.com</title>
<description>Companhia de Bebidas das Americas (AmBev)</description>
<link>http://www.alacrastore.com/company-snapshot/Companhia_de_Bebidas_das_Americas_AmBev-2504476</link>
<lastBuildDate>Saturday, July 26, 2008 7:41:45 AM</lastBuildDate>
<alacra:xlsid>2504476</alacra:xlsid>
<alacra:company>Companhia de Bebidas das Americas (AmBev)</alacra:company>
<language>en</language>
<generator>AlacraStore RSS Builder 1.0</generator>
<ttl>30</ttl>
<item><link>http://www.alacrastore.com/storecontent/newstex/PRN-0005-26236540</link><guid isPermaLink="false">newstex/PRN-0005-26236540</guid><newstex:index_mode xmlns:newstex="http://www.alacra.com/newstex">xml</newstex:index_mode><description> LUXEMBOURG, Jun. ##, #### (PRNewswire-FirstCall delivered by Newstex) -- Quilmes Industrial (Quinsa), Societe Anonyme ("Quinsa") announced that as of today it has filed a Form ##F with the U.S. Securities and Exchange Commission to...</description><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04000000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04007000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04007008</newstex:cat><pubDate>6/25/2008 6:06:26 PM</pubDate><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18000000</newstex:event><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18022000</newstex:event><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19000000</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002000</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002010</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002015</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002018</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002007</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002002</newstex:geo><newstex:Publication xmlns:newstex="http://www.alacra.com/newstex">PR Newswire US</newstex:Publication><title>Quilmes Industrial (Quinsa), Societe Anonyme Announces Deregistration Under the U.S. Securities Laws</title><newstex:docid xmlns:newstex="http://www.alacra.com/newstex">PRN-0005-26236540</newstex:docid><newstex:index_entry_company xmlns:newstex="http://www.alacra.com/newstex">AMERICAN BEVERAGE CO AMBEV</newstex:index_entry_company><newstex:index_entry_ticker xmlns:newstex="http://www.alacra.com/newstex">ABV</newstex:index_entry_ticker><category>News</category><alacra:ip>Newstex</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/PR_157401_600058516</link><guid isPermaLink="false">moodys/PR_157401_600058516</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><description>Global Credit Research Announcement ## JUN ####   Announcement: Companhia de Bebidas das Americas (AmBev) Moody's affirms AmBev's Baa# rating and positive outlook Sao Paulo, June ##, #### -- Moody's affirmed Companhia de Bebidas das...</description><pubDate>6/17/2008 3:56:57 AM</pubDate><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Companhia de Bebidas das Americas (AmBev)</moodys:issuer><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">Companhia de Bebidas das Americas (AmBev)</moodys:issuer_list><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600058516</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">Announcement</moodys:report_type><title>Moody's affirms AmBev's Baa1 rating and positive outlook</title><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">PR_157401_600058516</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/spcred/653771</link><guid isPermaLink="false">spcred/653771</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest News from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">structured</spcred:dataset><pubDate>6/12/2008 6:29:56 PM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">100</spcred:price><title>AmBev - Companhia de Bebidas das Americas Outlook Revised To Stable; 'BBB' Rating Affirmed</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">News</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">653771</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Brazil</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Brewers</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Latin America</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Emerging Markets</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Structured Finance</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Asset-Backed Securities</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Consumer Products</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">News</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">SAO PAULO (Standard&amp;Poor's) June 12, 2008--Standard&amp;Poor's Rating Services said today that it affirmed its long-term corporate credit rating on AmBev Â– Companhia de Bebidas das Americas at 'BBB'. The outlook was revised to stable from positive. The change in outlook follows the announcement that its parent company, InBev N. V. (unrated), made a cash offer to purchase all outstanding shares of Anheuser-Busch Cos. Inc. (A/Watch Neg/A-1) for $65 per share in cash, plus the assumption of debt, for a total consideration of almost $57 billion. "Although we do not expect the proposed acquisition to affect AmBev's financials, the outlook change to stable indicates that we do not anticipate upgrading AmBev while the acquisition is being considered</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">BRA</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">20441W</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">30201010 302010 3020 30</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">AmBev - Companhia de Bebidas das Americas</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">351547</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">LATAMERICA</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EMERGING</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">AMBV4@BZ</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">NEWS</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">STRUC</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">ABS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Consumer</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/653772</link><guid isPermaLink="false">spcred/653772</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest Research Update from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">structured</spcred:dataset><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">pubfin</spcred:dataset><pubDate>6/12/2008 6:29:56 PM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">175</spcred:price><title>Research Update: AmBev - Companhia de Bebidas das Americas 'BBB' Rating Affirmed; Outlook To Stable</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Research Update</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">653772</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Brazil</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Brewers</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Latin America</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Emerging Markets</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Structured Finance</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Public Finance</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Asset-Backed Securities</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Consumer Products</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Research Update</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">On June 12, 2008, Standard&amp;Poor's Rating Services affirmed its long-term corporate credit rating on AmBev Â– Companhia de Bebidas das Americas at 'BBB'. The outlook was revised to stable from positive. The change in outlook follows the announcement that its parent company, InBev N. V. (unrated), made a cash offer to purchase all outstanding shares of Anheuser-Busch Cos. Inc. (A/Watch Neg/A-1) for $65 per share in cash, plus the assumption of debt, for a total consideration of almost $57 billion. Although we do not expect the proposed acquisition to affect AmBev's financials, the outlook change to stable indicates that we do not anticipate upgrading AmBev while the acquisition is being considered and, if the transaction proceeds, until we</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">BRA</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">20441W</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">30201010 302010 3020 30</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">AmBev - Companhia de Bebidas das Americas</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">351547</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">LATAMERICA</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EMERGING</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">AMBV4@BZ</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">RESUPD</spcred:index_entry_reporttype><spcred:index_entry_seccountry xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_seccountry><spcred:index_entry_seccusip xmlns:spcred="http://www.alacra.com/spcred">035229</spcred:index_entry_seccusip><spcred:index_entry_seccusip xmlns:spcred="http://www.alacra.com/spcred">03522Q</spcred:index_entry_seccusip><spcred:index_entry_seccusip xmlns:spcred="http://www.alacra.com/spcred">03523A</spcred:index_entry_seccusip><spcred:index_entry_seccusip xmlns:spcred="http://www.alacra.com/spcred">03523B</spcred:index_entry_seccusip><spcred:index_entry_seccusip xmlns:spcred="http://www.alacra.com/spcred">03523C</spcred:index_entry_seccusip><spcred:index_entry_seccusip xmlns:spcred="http://www.alacra.com/spcred">03523D</spcred:index_entry_seccusip><spcred:index_entry_secgics xmlns:spcred="http://www.alacra.com/spcred">30201010 302010 3020 30</spcred:index_entry_secgics><spcred:index_entry_secissuer xmlns:spcred="http://www.alacra.com/spcred">Anheuser-Busch Cos. Inc.</spcred:index_entry_secissuer><spcred:index_entry_secissuerid xmlns:spcred="http://www.alacra.com/spcred">100142</spcred:index_entry_secissuerid><spcred:index_entry_secreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_secreg><spcred:index_entry_secticker xmlns:spcred="http://www.alacra.com/spcred">BUD</spcred:index_entry_secticker><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">STRUC</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">PUBFIN</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">ABS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">Consumer</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/fitch/423817_pr_frame</link><guid isPermaLink="false">fitch/423817_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">Cerveceria y Malteria Quilmes S.A.</fitch:company><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Companhia de Bebidas das Americas (AmBev)</fitch:company><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80090724</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80430336</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">81414683</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">81839151</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">83435952</fitch:companyid><pubDate>6/12/2008 6:23:00 PM</pubDate><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">01030200</fitch:industry><fitch:industry xmlns:fitch="http://www.alacra.com/fitch">03040300</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">AMBV3</fitch:ticker><fitch:ticker xmlns:fitch="http://www.alacra.com/fitch">BUD</fitch:ticker><title>Fitch Places Anheuser-Busch, AmBev &amp; CMQ's Rtgs on Rating Watch Negative</title><fitch:docid xmlns:fitch="http://www.alacra.com/fitch">423817_pr_frame</fitch:docid><category>Credit &amp; Investment Research</category><alacra:ip>FitchResearch</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/newstex/BW-0001-25370919</link><guid isPermaLink="false">newstex/BW-0001-25370919</guid><newstex:index_mode xmlns:newstex="http://www.alacra.com/newstex">xml</newstex:index_mode><description> CHICAGO, May ##, #### (Business Wire) --  Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets....</description><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">01000000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">01021000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04000000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04007000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04007008</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016048</newstex:cat><pubDate>5/19/2008 7:06:13 AM</pubDate><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18000000</newstex:event><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18008000</newstex:event><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18004000</newstex:event><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19000000</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002000</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002010</newstex:geo><newstex:Publication xmlns:newstex="http://www.alacra.com/newstex">Business Wire</newstex:Publication><title>Zacks Analyst Blog Highlights: AmBev, Quilmes Industrial, Anheuser Busch, J.C. Penney and Emergency Medical Services</title><newstex:docid xmlns:newstex="http://www.alacra.com/newstex">BW-0001-25370919</newstex:docid><newstex:index_entry_company xmlns:newstex="http://www.alacra.com/newstex">AMERICAN BEVERAGE CO AMBEV</newstex:index_entry_company><newstex:index_entry_company xmlns:newstex="http://www.alacra.com/newstex">ANHEUSER-BUSCH COMPANIES, INC.</newstex:index_entry_company><newstex:index_entry_ticker xmlns:newstex="http://www.alacra.com/newstex">ABV</newstex:index_entry_ticker><newstex:index_entry_ticker xmlns:newstex="http://www.alacra.com/newstex">BUD</newstex:index_entry_ticker><category>News</category><alacra:ip>Newstex</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T1847542</link><guid isPermaLink="false">ccbn/T1847542</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>...Good morning and thank you for waiting. We would like to welcome everyone to AmBev's first quarter #### earnings conference call. Today with us we have Mr. Luiz Fernando Edmond, CEO for Latin America, Mr. Graham Staley, CFO and Investor Relations Officer, Mr. Joao Castro Neves, CEO for Quinsa, and Mr. Bernardo Paiva, CEO for North America. (OPERATOR INSTRUCTIONS). Before proceeding, let me mentioned that forward-looking statements are being made under the Safe Harbor of the Securities Litigation Reform Act of ####. Forward-looking statements are based on the beliefs and assumptions of AmBev's management and on information currently available to the Company. They involve risks, uncertainties and assumptions because they relate to future events and therefore depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions and other operating factors could also affect the future results of AmBev and could cause...

</description><pubDate>5/9/2008 8:15:00 AM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">AmBev - Companhia de Bebidas Das Americas</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Preliminary</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Q1 2008 AmBev - Companhia de Bebidas Das Americas Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">ABV</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">10:00am ET</ccbn:time><title>Q1 2008 AmBev - Companhia de Bebidas Das Americas Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1847542</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson Street Events</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/newstex/PRN-0005-25104059</link><guid isPermaLink="false">newstex/PRN-0005-25104059</guid><newstex:index_mode xmlns:newstex="http://www.alacra.com/newstex">xml</newstex:index_mode><description> SAO PAULO, Brazil, May #, May #, #### (PR Newswire delivered by Newstex) --  SAO PAULO, Brazil, May # /PRNewswire-FirstCall/ -- Companhia de Bebidas das Amdricas - AmBev [BOVESPA: AMBV#, AMBV#; and NYSE: ABV, ABVc], announces today...</description><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04000000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016048</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04016018</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04007000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04007008</newstex:cat><pubDate>5/8/2008 2:06:46 AM</pubDate><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18000000</newstex:event><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18008000</newstex:event><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18004000</newstex:event><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19000000</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002000</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002010</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002015</newstex:geo><newstex:Publication xmlns:newstex="http://www.alacra.com/newstex">PR Newswire US</newstex:Publication><title>AmBev Reports First Quarter 2008 Results</title><newstex:docid xmlns:newstex="http://www.alacra.com/newstex">PRN-0005-25104059</newstex:docid><newstex:index_entry_company xmlns:newstex="http://www.alacra.com/newstex">AMERICAN BEVERAGE CO AMBEV</newstex:index_entry_company><newstex:index_entry_ticker xmlns:newstex="http://www.alacra.com/newstex">ABV</newstex:index_entry_ticker><category>News</category><alacra:ip>Newstex</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/bir/757290</link><guid isPermaLink="false">bir/757290</guid><bir:index_mode xmlns:bir="http://www.alacra.com/bir">norm</bir:index_mode><title>Companhia de Bebidas das Americas - AmBev</title><bir:company xmlns:bir="http://www.alacra.com/bir">Companhia de Bebidas das Americas - AmBev</bir:company><bir:cou xmlns:bir="http://www.alacra.com/bir">Brazil</bir:cou><bir:descr xmlns:bir="http://www.alacra.com/bir">Finance: Holding company with interests in the beverages industry</bir:descr><bir:sic xmlns:bir="http://www.alacra.com/bir">6719</bir:sic><bir:ssic xmlns:bir="http://www.alacra.com/bir">2086</bir:ssic><bir:naics xmlns:bir="http://www.alacra.com/bir">551112</bir:naics><bir:snaics xmlns:bir="http://www.alacra.com/bir">312111</bir:snaics><bir:class xmlns:bir="http://www.alacra.com/bir">30</bir:class><bir:size xmlns:bir="http://www.alacra.com/bir">I</bir:size><bir:revenue xmlns:bir="http://www.alacra.com/bir">M</bir:revenue><bir:ticker xmlns:bir="http://www.alacra.com/bir">ABV</bir:ticker><pubDate>4/24/2008 6:20:00 AM</pubDate><bir:docid xmlns:bir="http://www.alacra.com/bir">757290</bir:docid><category>Company Profiles &amp; Financials</category><alacra:ip>Gale Company Profiles</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/newstex/PRN-0005-24551410</link><guid isPermaLink="false">newstex/PRN-0005-24551410</guid><newstex:index_mode xmlns:newstex="http://www.alacra.com/newstex">xml</newstex:index_mode><description> LUXEMBOURG, April ##, Apr. ##, #### (PR Newswire delivered by Newstex) --  LUXEMBOURG, April ## /PRNewswire-FirstCall/ -- Quilmes Industrial (Quinsa), Societe Anonyme ("Quinsa" or the "Company") announced today that by decision of the...</description><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04000000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04007000</newstex:cat><newstex:cat xmlns:newstex="http://www.alacra.com/newstex">04007008</newstex:cat><pubDate>4/16/2008 4:05:34 PM</pubDate><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18000000</newstex:event><newstex:event xmlns:newstex="http://www.alacra.com/newstex">18022000</newstex:event><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19000000</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002000</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002010</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002015</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002007</newstex:geo><newstex:geo xmlns:newstex="http://www.alacra.com/newstex">19002018</newstex:geo><newstex:Publication xmlns:newstex="http://www.alacra.com/newstex">PR Newswire US</newstex:Publication><title>Quilmes Industrial (Quinsa), Societe Anonyme Announces the Outcome of Its Recent Amendment to Its Articles of Association</title><newstex:docid xmlns:newstex="http://www.alacra.com/newstex">PRN-0005-24551410</newstex:docid><newstex:index_entry_company xmlns:newstex="http://www.alacra.com/newstex">AMERICAN BEVERAGE CO AMBEV</newstex:index_entry_company><newstex:index_entry_ticker xmlns:newstex="http://www.alacra.com/newstex">ABV</newstex:index_entry_ticker><category>News</category><alacra:ip>Newstex</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/COP_600058516</link><guid isPermaLink="false">moodys/COP_600058516</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><description>Global Credit Research Credit Opinion ## APR ####   Credit Opinion: Companhia de Bebidas das Americas (AmBev) Companhia de Bebidas das Amricas (AmBev) Brazil Ratings Category Moody's Rating Outlook Positive(m) Issuer Rating -Fgn Curr...</description><pubDate>4/16/2008 8:20:07 AM</pubDate><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Companhia de Bebidas das Americas (AmBev)</moodys:issuer><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">Companhia de Bebidas das Americas (AmBev)</moodys:issuer_list><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600058516</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">Credit Opinion</moodys:report_type><title>Companhia de Bebidas das AmTricas (AmBev)</title><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">COP_600058516</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/moodys/PR_153095_600058516</link><guid isPermaLink="false">moodys/PR_153095_600058516</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><description>Global Credit Research Rating Action ## APR ####   Rating Action: Companhia de Bebidas das Americas (AmBev) Moody's changes AmBev's Baa# rating outlook to positive Sao Paulo, April ##, #### -- Moody's Investors Service affirmed Companhia...</description><pubDate>4/15/2008 12:33:53 AM</pubDate><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Companhia de Bebidas das Americas (AmBev)</moodys:issuer><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">Companhia de Bebidas das Americas (AmBev)</moodys:issuer_list><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600058516</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 changes AmBev's Baa1 rating outlook to positive</title><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">PR_153095_600058516</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/ccbn/T1784942</link><guid isPermaLink="false">ccbn/T1784942</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><description>...Good afternoon, and thank you for waiting. We would like to welcome everyone to AmBev's Fourth Quarter #### Earnings Conference Call. Today with us we have Mr. Luiz Fernando Edmond, the CEO for Latin America; Mr. Bernardo Paiva, CEO for North America; Mr. Graham Staley, CFO and Investor Relations Officer; and Mr. Joao Castro Neves, CEO for Quinsa. We would like to inform you that this event is being recorded. (OPERATOR INSTRUCTIONS). Before proceeding, let me mention that forward-looking statements are being made under the safe harbor of the Securities Litigation Reform Act of ####. Forward-looking statements are based on the beliefs and assumptions of AmBev's management and on information currently available to the Company. They involve risks, uncertainties, and assumptions because they relate ...

</description><pubDate>3/1/2008 6:11:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">AmBev - Companhia de Bebidas Das Americas</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Q4 2007 AmBev - Companhia de Bebidas Das Americas Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">ABV</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">10:00am ET</ccbn:time><title>Q4 2007 AmBev - Companhia de Bebidas Das Americas Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1784942</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson Street Events</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T1692058</link><guid isPermaLink="false">ccbn/T1692058</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><pubDate>11/8/2007 4:14:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">AmBev - Companhia de Bebidas Das Americas</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Q3 2007 AmBev - Companhia de Bebidas Das Americas Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">ABV</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">10:00am ET</ccbn:time><title>Q3 2007 AmBev - Companhia de Bebidas Das Americas Earnings Conference Call Transcript</title><description>...Good afternoon, and thank you for waiting. We would like to welcome everyone to AmBev third quarter #### earnings conference call. Today with us, we have Mr. Luiz Fernando Edmond, CEO for Latin America, Mr. Miguel Patricio, CEO for North America, Mr. Graham Staley, CFO Investor Relations Officer, and Mr. Joao Castro Neves, CEO for Quinsa. We would like to inform you that this event is being recorded and all participants will be in a listen-only mode during the company's presentation. After AmBev's remarks are complete, there will be a question and answer section. At that time, further instructions will be given. (OPERATOR INSTRUCTIONS).Before proceeding, let me mention that forward looking statements are being made under the safe harbor of Securities Litigation Reform Act of ####. Forward looking statements are based on the belief and assumptions of AmBev's management, and on information currently available to the company. They involve risk, uncertainties and assumptions because they relate...

</description><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1692058</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson Street Events</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/fitch/367633_pr_frame</link><guid isPermaLink="false">fitch/367633_pr_frame</guid><fitch:index_mode xmlns:fitch="http://www.alacra.com/fitch">html</fitch:index_mode><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Companhia de Bebidas das Americas (AmBev)</fitch:company><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80090724</fitch:companyid><pubDate>9/5/2007 2:06:00 PM</pubDate><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: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">AMBV3</fitch:ticker><title>Fitch Affirms AmBev's IDR at 'BBB'; Outlook Stable</title><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:docid xmlns:fitch="http://www.alacra.com/fitch">367633_pr_frame</fitch:docid><category>Credit &amp; Investment Research</category><alacra:ip>FitchResearch</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/PR_139774_600058516</link><guid isPermaLink="false">moodys/PR_139774_600058516</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>8/24/2007 12:42:34 AM</pubDate><title>Moody's Upgrades AmBev's Foreign Currency Issuer Rating to Baa3 from Ba1</title><description>Global Credit Research Rating Action ## AUG ####   Rating Action: Companhia de Bebidas das Americas (AmBev) Moody's Upgrades AmBev's Foreign Currency Issuer Rating to Baa# from Ba# Action Tied to Brazil Foreign Currency Country Ceiling...</description><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Companhia de Bebidas das Americas (AmBev)</moodys:issuer><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600058516</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">Companhia de Bebidas das Americas (AmBev)</moodys:issuer_list><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">PR_139774_600058516</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/ccbn/T1621646</link><guid isPermaLink="false">ccbn/T1621646</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><pubDate>8/14/2007 11:11:00 PM</pubDate><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">AmBev - Companhia de Bebidas Das Americas</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Q2 2007 AmBev - Companhia de Bebidas Das Americas Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">ABV</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">10:00am ET</ccbn:time><title>Q2 2007 AmBev - Companhia de Bebidas Das Americas Earnings Conference Call Transcript</title><description>...Good morning and thank you for waiting. We would like to welcome everyone to AmBev's second quarter #### earnings conference call. Today with us we have Mr. Luiz Fernando Edmond, CEO for Latin America, Mr. Miguel Patricio, CEO for North America, Mr. Graham Staley, CFO and Investor Relations Officer and Mr. Joao Castro Neves, CEO for Quinsa. (OPERATOR INSTRUCTIONS) Before proceeding, let me mention that forward-looking statements are being made under the Safe Harbor of the Securities Litigation Reform Act of ####. Forward-looking statements are based on the beliefs and assumptions of AmBev's management and on information currently available to the Company. They involve risks, uncertainties and assumptions, because they relate to future events and therefore depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions and other operating factors could also affect the future results of AmBev and could cause...

</description><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T1621646</ccbn:docid><category>Credit &amp; Investment Research</category><alacra:ip>Thomson Street Events</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/fitch/360624_pr_frame</link><guid isPermaLink="false">fitch/360624_pr_frame</guid><fitch:index_mode xmlns:fitch="http://www.alacra.com/fitch">html</fitch:index_mode><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Companhia de Bebidas das Americas (AmBev)</fitch:company><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80090724</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80430336</fitch:companyid><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">83435952</fitch:companyid><pubDate>7/11/2007 6:22:00 PM</pubDate><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">03040300</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">AMBV3</fitch:ticker><title>Fitch Releases Credit Analysis of AmBev</title><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:docid xmlns:fitch="http://www.alacra.com/fitch">360624_pr_frame</fitch:docid><category>Credit &amp; Investment Research</category><alacra:ip>FitchResearch</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/fitch/332058_report_frame</link><guid isPermaLink="false">fitch/332058_report_frame</guid><fitch:index_mode xmlns:fitch="http://www.alacra.com/fitch">pdf</fitch:index_mode><fitch:company xmlns:fitch="http://www.alacra.com/fitch">Companhia de Bebidas das Americas (AmBev)</fitch:company><fitch:companyid xmlns:fitch="http://www.alacra.com/fitch">80090724</fitch:companyid><pubDate>7/10/2007 6:22:00 PM</pubDate><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:price xmlns:fitch="http://www.alacra.com/fitch">150</fitch:price><fitch:report xmlns:fitch="http://www.alacra.com/fitch">Presale Report</fitch:report><fitch:ticker xmlns:fitch="http://www.alacra.com/fitch">AMBV3</fitch:ticker><title>Credit Analysis: Companhia de Bebidas das Americas -- AmBev</title><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:docid xmlns:fitch="http://www.alacra.com/fitch">332058_report_frame</fitch:docid><category>Credit &amp; Investment Research</category><alacra:ip>FitchResearch</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/589768</link><guid isPermaLink="false">spcred/589768</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><pubDate>7/10/2007 12:34:28 PM</pubDate><title>AmBev - Companhia de Bebidas das Americas Subsidiary's Proposed Notes Rated 'BBB'</title><description>The latest News from S&amp;P</description><spcred:type xmlns:spcred="http://www.alacra.com/spcred">News</spcred:type><spcred:keywords xmlns:spcred="http://www.alacra.com/spcred">RESILIENCE GUARANTOR SCHEDULE AGGRESSIVENESS REAIS PURPOSES BRAZILIAN DOLLARS IRREVOCABLY TOUGH MAXIMIZING BUYBACK RECURRENT DEPENDENCE NETWORK DIVIDENDS COMPANHIA COMFORTABLE BEBIDAS UNCONDITIONALLY STRENGTHEN FORTHCOMING AMERICAS DAS AMBEV CONFIRMATION REPAY AMOUNTED EFFICIENT YEARLY EBITDA DETERMINED</spcred:keywords><spcred:abstract xmlns:spcred="http://www.alacra.com/spcred">SAO PAULO (Standard&amp;Poor's) July 10, 2007--Standard&amp;Poor's Ratings Services said today that it assigned its 'BBB' rating to the forthcoming proposed notes due 2017 to be issued by Ambev International Finance Co. Ltd. (AmBev International), a wholly owned subsidiary of AmBev - Companhia de Bebidas das AmTricas (AmBev; BBB/Positive/--). The final amount has not been determined yet. The notes are to be denominated in Brazilian reais and payable in U.S. dollars. The rating remains subject to confirmation of the final amount, terms, and conditions of the issue. AmBev will unconditionally and irrevocably guarantee the notes on a senior unsecured basis. The proceeds will be primarily used to repay short-term debt and for other general corporate purposes. The</spcred:abstract><spcred:all_comps xmlns:spcred="http://www.alacra.com/spcred">AmBev - Companhia de Bebidas das Americas</spcred:all_comps><spcred:all_gics xmlns:spcred="http://www.alacra.com/spcred">30201010 302010 3020 30</spcred:all_gics><spcred:all_countries xmlns:spcred="http://www.alacra.com/spcred">BRA</spcred:all_countries><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:price xmlns:spcred="http://www.alacra.com/spcred">100.00</spcred:price><spcred:companyid xmlns:spcred="http://www.alacra.com/spcred">351547</spcred:companyid><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">589768</spcred:docid><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item></channel></rss>