Chile-based beverage company, Compañía de Cervecerías Unidas S.A. (CCU), is planning to issue senior unsecured notes due 2032 for up to $600 million for general corporate purposes, which will bolster the company's liquidity. We forecast robust credit metrics, even during high commodity costs, thanks to low leverage and efficient and resilient operating performance. On Jan. 10, 2022, S&P Global Ratings assigned its 'BBB' issuer credit and issue-level ratings on CCU. The stable outlook reflects CCU's stable operating and financial performance, and adequate liquidity. We expect debt to EBITDA to remain below 1.5x and free operating cash flow (FOFC) to debt of about 5% in 2022 and 30% in 2023. SAO PAULO (S&P Global Ratings) Jan. 10, 2022—S&P Global Ratings took
