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S&P Credit Research912 word report
published Oct 23, 2007
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S&P Credit Research
| Abstract: | TOKYO (Standard&Poor's) Oct. 23, 2007--Standard&Poor's Ratings Services said today that it had placed its 'AA-' long-term corporate credit and long-term senior unsecured debt ratings on Kirin Holdings Co. Ltd. on CreditWatch with negative implications following the company's formal announcement of its plan to pursue a strategic business alliance with Kyowa Hakko Kogyo Co. Ltd. (NR). On Oct. 22, 2007, Kirin announced that it would acquire Kyowa Hakko by taking a major ownership position in the company. The CreditWatch listing reflects: -- The deterioration in Kirin's debt-to-capital and cash flow coverage ratios if the company obtains external funding to finance the transaction; and -- Uncertainty over the deal's contribution to Kirin's earnings as a result of the
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| Brief Excerpt: | RESEARCH Ratings Definitions Japan's Kirin On Watch Negative After Announcing Strategic Alliance With Kyowa Hakko Kogyo Publication date: 23-Oct-2007 Primary Credit Analyst: Machiko Amano, Tokyo (81) 3-4550-8659; machiko_amano@standardandpoors.com...
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| Report Type: | Ratings Action
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| Ticker: | 2503@JP
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| Issuer: | Kirin Holdings Co. Ltd. (Unsolicited Ratings)
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| GICS: | Brewers (30201010)
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| Sector: | Consumer Products, Corporations, Global Issuers
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| Country: | Japan
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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- Kirin Holdings Co. Ltd. $400.00
Maintains large market shares in multiple products in alcoholic beverage segment Enhanced business franchise in overseas business, non-alcoholic beverages, and pharmaceuticals Stable cash flow from domestic alcoholic beverages, which supports ...
- Summary: Kirin Holdings Co. Ltd. $175.00
Kirin Holdings Co. Ltd. (Kirin HD) is a pure holding company established in July 2007 when Kirin Brewery Co. Ltd. reorganized its group into a holding company structure. Kirin HD has operating subsidiaries engaged in the group's core businesses, ...
- Credit Quality Of Kirin Holdings Could Be Negatively Impacted By Proposed Acquisition $100.00
TOKYO (Standard&Poor's) Nov. 19, 2008--Standard&Poor's Ratings Services said today that if acquisition talks between Kirin Holdings Co. Ltd.'s (Kirin; A+/Stable/--) 46% subsidiary, Lion Nathan Ltd. (BBB/Stable/--), and Coca-Cola Amatil Ltd. ...
- Bulletin: Rating On Kirin Holdings Unaffected By Planned Acquisition Of Dairy Farmers $100.00
TOKYO (Standard&Poor's) Aug. 26, 2008--Standard&Poor's Ratings Services said today that its rating on Kirin Holdings Co. Ltd. (Kirin; A+/Stable/--) would not be affected by its planned acquisition of Dairy Farmers, a major Australia-based dairy ...
- Ratings On Kirin Holdings Lowered To 'A+', Removed From CreditWatch; Outlook Stable $100.00
TOKYO (Standard&Poor's) Feb. 21, 2008--Standard&Poor's Ratings Services today lowered its long-term corporate credit and long-term senior unsecured debt ratings on Kirin Holdings Co. Ltd. by one notch to 'A+', reflecting the view that it will ...
- Ratings On Kirin Holdings Remain On CreditWatch Negative $100.00
TOKYO (Standard&Poor's) Nov. 9, 2007--Standard&Poor's Ratings Services today said that its 'AA-' long-term corporate credit and long-term senior unsecured debt ratings on Kirin Holdings Co. Ltd. remain on CreditWatch with negative implications, ...
- Kirin's Potential Acquisition Of Kyowa Hakko Kogyo May Negatively Impact Ratings $100.00
TOKYO (Standard&Poor's) Oct. 19, 2007--Standard&Poor's Ratings Services said today that if reported acquisition talks between Kirin Holdings Co. (AA-/Stable/--) and Kyowa Hakko Kogyo Co. (NR) lead to Kirin taking a major ownership position ...
- Kirin Brewery Co. Ltd. $400.00
Relatively stable cash flow generation, on account of shift to an open pricing system, and taking the lead in marketing strategies that incorporate consumer needs in developing new products, despite the maturing domestic alcoholic beverage ...
