...Fitch Ratings has affirmed Brown-Forman Corporation's ratings, including the Long-Term Issuer Default Rating (IDR) at `A' and Short-Term IDR at `F1'. The Rating Outlook has been revised to Stable from Negative. Brown-Forman's affirmation and Outlook revision to Stable reflect an improving financial profile due to expectations for decreased leverage, a more balanced capital allocation policy and improved operating performance that should drive higher profitability and increased EBITDA. Brown-Forman is experiencing good growth across its premium positioned spirits portfolio that is supported by a recovery in emerging market regions. A good innovation pipeline, including the anticipated launch of Jack Daniel's Tennessee Rye, and a cost efficiency program to increase investment behind the brands should help offset growing competition in the U.S. craft whiskey category....
